Global landscape of renewable energy finance 2023

The document outlines the data sources, classification systems, and analytical principles used by the International Renewable Energy Agency (IRENA) and Climate Policy Initiative (CPI) to track renewable energy finance. It defines the scope of investors, financial instruments, and technologies analyzed, while distinguishing between power generation and end-use applications. It also specifies the methodology for tracking off-grid investments in emerging and developing countries and explains the distinction between 'energy transition investments' and 'climate finance'.

• The analysis of global renewable energy investment flows for 2013-2020 identifies that these flows represented 51% of total climate finance flows and 57% of total climate mitigation finance during the 2019-2020 period.
• The methodology employs a conservative approach to data collection, specifically excluding risk mitigation instruments like insurance and guarantees because their actual disbursements depend on uncertain future events.
• For the first time, the 2023 report distinguishes between renewable energy investments for power generation and end-use applications, such as transport, heating, and cooling, using specific technology assumptions.
• The tracking of off-grid renewable energy investments (2010-2021) in emerging and developing countries reveals that solar PV is the dominant energy source, accounting for 92% of the total tracked investment.
• The document distinguishes 'energy transition investments' from 'climate finance', noting that some energy transition solutions—such as energy efficiency for fossil fuel power assets or plug-in hybrid electric vehicles—are excluded from climate finance because they may prolong fossil fuel use.
• To estimate investment values when specific data is missing, the methodology uses a default gearing ratio of 70/30 (debt to total capital), except for wind power projects in China, where an 80/20 ratio is applied.

APA

Climate Policy Initiative (2023). Global landscape of renewable energy finance 2023. https://www.climatepolicyinitiative.org/wp-content/uploads/2023/02/Global_Landscape_Renewable_Energy_Finance_2023_Methodology.pdf

Chicago

Climate Policy Initiative. Global landscape of renewable energy finance 2023. 2023. https://www.climatepolicyinitiative.org/wp-content/uploads/2023/02/Global_Landscape_Renewable_Energy_Finance_2023_Methodology.pdf.

Wikipedia

{{cite report |author=Climate Policy Initiative |title=Global landscape of renewable energy finance 2023 |date=2023 |url=https://www.climatepolicyinitiative.org/wp-content/uploads/2023/02/Global_Landscape_Renewable_Energy_Finance_2023_Methodology.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatepolicyinitiative2023global, author = {{Climate Policy Initiative}}, title = {{Global landscape of renewable energy finance 2023}}, institution = {Climate Policy Initiative}, year = {2023}, url = {https://www.climatepolicyinitiative.org/wp-content/uploads/2023/02/Global_Landscape_Renewable_Energy_Finance_2023_Methodology.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }