In 2020, global investment in the low-carbon energy transition totalled $501.3 billion, up from $458.6 billion in 2019 and just $235.4 billion in 2010. This figure includes investment in projects, such as renewable power, energy storage, EV charging infrastructure, hydrogen production and CCS projects – as well as end-user purchases of low-carbon energy devices, such as smallscale solar systems, heat pumps and zero-emission vehicles.

The largest sector in 2020 was renewable energy, which attracted $303.5 billion for new projects and small-scale systems. This was up 2% on 2019, despite Covid-related delays to some deals.

The second-biggest was electric transport, which saw $139 billion of outlays on new vehicles and charging infrastructure, up 28%. Electric heat got $50.8 billion of investment, up 12%

Clean energy shares jumped 142% in 2020, while oil shares fell

Clean energy shares have been serial under-performers for most of the last decade. However, in 2020, the trend reversed spectacularly, as investors warmed to the prospects for wind, solar, batteries and electric vehicles. Their increasing cost-effectiveness compared to fossil fuel alternatives was a key influence.

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