Countries covering one-third of energy-related CO2 emissions earmarked new clean energy
spending last year; those representing one-fifth of emissions adopted new energy regulations

Newly earmarked government support for clean energy in 2024 brings total since the Covid-19
pandemic to USD 2 trillion
Cumulative government support for clean energy reached almost
USD 2 trillion since 2020, of which USD 290 billion was earmarked
for 2024. As more spending packages are currently routing through
government approval processes, earmarked spending in 2024 could
be on par with or even surpass that of 2023. State of Energy Policy
2024 builds on the IEA’s Government Energy Spending Tracker,
which monitors clean energy investment support since 2020 across
five areas: clean energy infrastructure; renewables; electrification;
energy efficiency; and clean energy technologies supply chains.

Several clean energy technologies have seen a large share of government incentives directed
towards promoting domestic manufacturing activities

Free trade agreements established since 2020 largely still enable free exchange of clean energy
technologies among G20 partners

Source:https://www.iea.org/reports/state-of-energy-policy-2024