Record-breaking clean energy investment overtakes fossil fuel spending

As capital spending across the fossil fuel industry continues to fall, investment in low carbon energy is thriving, helping to push electricity sector capex to record levels, according to the International Energy Agency (IEA)

Last year spending in the electricity sector overtook investment in the fossil fuel industry for the first time ever, according to the IEA's recently-released World Energy Investment 2017 report—a barometer for spending across the entire energy industry. Capital investment in global oil and gas supply fell by 38% between 2014 and 2016, the IEA said, but still comprises around 40% of the total. This drop has allowed spending on low-carbon energy supply, including electricity networks, to reach a record 43% of the global, total spend last year. This is a rise of 12% from 2014 levels. Global electricity investment was down just 1% at $718bn, with growing network spending mostly offset by fewer c