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Global landscape of renewable energy finance, 2023
Global investments in energy transition technologies reached a record USD 1.3 trillion in 2022, yet this remains insufficient to meet climate goals, with annual needs estimated at over USD 5 trillion. While renewable energy investments are growing, they are heavily concentrated in a few regions—primarily East Asia and the Pacific—and specific technologies like solar PV and wind. Conversely, fossil fuel investments continue to rise, and subsidies remain high, particularly in Europe and the MENA region. The report emphasizes the need for a fundamental shift in financing for the Global South, calling for more innovative public finance instruments, the mobilization of institutional capital, and a transition away from fossil fuel funding to ensure a just and inclusive energy transition.
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Document type: Executive summary
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'.
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Document type: Report
Columbia Basin Restoration Initiative
The Columbia Basin Restoration Initiative (CBRI), proposed by the 'Six Sovereigns' (four Tribal Nations and the states of Oregon and Washington), outlines a long-term strategy to restore native fish populations to 'healthy and abundant levels'. The centerpiece of the proposal is the breaching of four Lower Snake River (LSR) dams, which the document asserts is the only reasonable way to ensure the recovery of Snake River stocks. To make this viable, the CBRI calls for federal investment to secure 'continuity of services'—replacing the dams' energy, transportation, irrigation, and recreation benefits—prior to breaching. The plan also includes reintroducing fish into blocked areas of the Upper Columbia, improving water quality and quantity, and implementing predator control. It emphasizes a 'whole of government' approach to funding, including the use of the Inflation Reduction Act and the Northwest Power Act, while upholding federal Treaty and trust responsibilities to Tribal Nations.
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Document type: Statement
2023 ENERGY SERVICES MARKET INTELLIGENCE REPORT
The 2023 Energy Services Market Intelligence Report by GreenCape identifies significant growth in South Africa's energy services sector, driven by national energy insecurity (load shedding) and rising electricity costs. Rooftop solar PV is the most immediate opportunity, with an estimated annual market value of R7.5 billion and a projected total capacity of 10 GWp by 2035. Behind-the-meter storage, particularly lithium-ion batteries, is growing as a backup solution, with a current market size of R4 billion expected to reach R32.5 billion by 2035. The energy efficiency sector remains sluggish despite a potential annual saving of 120 TWh, though smart meter upgrades present a market opportunity of R40–R60 billion. Key barriers include port inefficiencies causing long equipment lead times and a shortage of skilled technical labor. The report also details the regulatory landscape, including the removal of the 100 MW generation license threshold and the implementation of mandatory energy performance certificates for large buildings.
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Document type: Report
GREEN ECONOMY INDUSTRIALISATION IN SOUTH AFRICA
The document assesses the attractiveness of South Africa's green economy manufacturing market, detailing policy frameworks, electricity costs, labour laws, and tax systems. It highlights significant opportunities in renewable energy, water infrastructure, and sustainable agriculture, while identifying critical bottlenecks such as load shedding, policy inconsistency, and skills shortages.
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Document type: Briefing
REPOWERING THE MEDITERRANEAN: REFLECTIONS ON GRID INFRASTRUCTURE DIPLOMACY
The document analyzes the Mediterranean's electricity grid infrastructure, identifying four main interconnection zones and various proposed projects like the EuroAsia and EuroAfrica Interconnectors. It highlights how geopolitical tensions, particularly in the Eastern Mediterranean, hinder integration while suggesting that the energy transition and EU demand for renewables could drive cooperation. The author proposes guidelines for enhancing interconnectivity, emphasizing the need for political alignment and regulatory cooperation.
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Document type: Research paper
Power System Decarbonization Pathways in Northwestern China
The document examines the transition from coal to renewable energy in northwestern China, specifically focusing on Shaanxi province. It argues that because provincial grids are the core units of China's power system planning, customized pathways are necessary based on regional resource endowments and economic structures. The report provides six recommendations for Shaanxi to achieve early carbon peaking, including creating market conditions for renewables, accelerating energy storage, exploring demand-side flexibility, managing the coal power transition, improving interprovincial clean energy exports via HVDC lines, and decoupling economic growth from coal investment.
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Document type: Case study
Small Changes Could Yield Big Savings for Georgia Electricity Customers
Georgia electricity customers face high energy burdens, particularly low-income households and people of color, despite relatively low electricity rates. The document identifies several regulatory levers the Georgia Public Service Commission (PSC) could use to lower costs, including reducing Georgia Power's return on equity (ROE) to the national average, implementing fuel-sharing mechanisms to mitigate natural gas price volatility, and updating the Integrated Resource Plan to incorporate Inflation Reduction Act incentives. It also suggests securitization as a means to save customers $1.05 billion and recommends comprehensive transmission and distribution planning to avoid unnecessary capital-intensive spending.
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Document type: Policy brief
Earthjustice Statement on Puerto Rico’s Failing Non-Renewable Energies in the Wake of Secretary of Energy’s Visit to the Archipelago
Earthjustice criticizes the continued reliance on a centralized fossil-fuel energy grid in Puerto Rico, citing the failure of LNG and coal plants and the resulting energy-related deaths following Hurricane Fiona. The organization advocates for the use of unspent FEMA funds to implement distributed rooftop solar and storage systems, as supported by US Department of Energy Secretary Jennifer Granholm and local communities like Adjuntas.
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Document type: Statement
IMPLEMENTING THE INFLATION REDUCTION ACT: A ROADMAP FOR FEDERAL AND STATE BUILDINGS POLICY
The report analyzes the impact of the Inflation Reduction Act (IRA) on the U.S. building sector, highlighting its potential to reduce annual emissions by 32 to 33 million metric tons of CO2e by 2030. It details various residential rebates (HEEHRA, HOMES), tax credits (25C, 25D, 45L), and commercial incentives (179D), while emphasizing that these must be paired with stricter appliance standards and updated building codes to overcome slow stock turnover. The document provides specific implementation guidance for State Energy Offices and utility regulators to ensure an equitable transition, particularly for low-to-moderate-income households.
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Document type: Report
Making the Leap
The document examines the role of Just Energy Transition Partnerships (JETPs) in facilitating the shift from fossil fuels to clean energy in five emerging economies. It argues against the use of natural gas as a 'bridging fuel,' citing price volatility, the risk of stranded assets, and methane emissions. Instead, it advocates for 'leapfrogging' directly to renewables, noting that solar and wind are cost-competitive and better suited for expanding energy access in rural areas. The brief emphasizes that a gas-led transition would be economically disadvantageous and inconsistent with the 1.5°C Paris Agreement goal.
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Document type: Policy brief
QUELLE EST LA PLACE DU GAZ DANS UN MIX ÉNERGÉTIQUE SOUTENABLE ?
The briefing challenges the narrative of natural gas as a climate solution, asserting that a global gas-based electricity system would be as harmful as one based on coal due to value chain emissions and methane's potency. It distinguishes between 'baseload' and 'peak' power, arguing that baseload plants are becoming obsolete as renewable penetration increases. While open-cycle gas turbines (OCGT) can provide necessary short-term flexibility to handle demand peaks, combined-cycle gas turbines (CCGT) lack the required agility and commercial viability in renewable-heavy grids. For long-term seasonal flexibility, the document cites IEA scenarios suggesting existing thermal plants and pumped-storage hydropower are sufficient, rendering new gas plants unnecessary. Reclaim Finance calls for financial actors to immediately cease all financial services supporting gas expansion, including new fields and LNG export terminals.
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Document type: Briefing
Electricity grids: Key policy actions
The document argues that power grids must become the backbone of the energy system to achieve a carbon-neutral economy by 2050, transporting 50% or more of Europe's energy. It identifies critical barriers including underinvestment, lack of data transparency, inefficient connection queues, and fragmented system planning. Ember recommends shifting to a "first ready, first served" approach for grid connections, introducing clear investment incentives, and establishing an integrated, system-level planning framework coordinated by an independent body to ensure grid development anticipates rather than lags behind clean energy growth.
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Document type: Policy brief
Why Canada’s Energy Security Hinges on Renewables
The document asserts that Canada's reliance on oil, gas, and coal leaves it vulnerable to global market volatility and geopolitical shocks, despite being a major producer. It argues that renewable energy sources like wind and solar are now more cost-effective than fossil fuels and can provide long-term price stability because they do not require input fuels. The brief highlights Canada's existing hydroelectric capacity as a key asset for balancing variable renewables and suggests that electrifying transport and heating will further reduce exposure to fossil fuel price spikes. It concludes that prioritizing investments in flexible, integrated electricity grids and energy efficiency is essential for achieving a non-emitting electricity grid by 2035 and ensuring affordable energy security.
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Document type: Policy brief
Growing the Grid: A Plan to Accelerate California's Clean Energy Transition
California's current bottom-up approach to clean energy deployment is insufficient to meet its targets of 90 percent zero-carbon electricity sales by 2035 and 100 percent by 2045. To achieve these goals, the state would need to quadruple its in-state electricity generation capacity and triple its transmission capacity by 2050. The document recommends the creation of a formal Clean Energy Deployment Plan with specific quantities and locations, the assignment of a lead agency, and the implementation of a public progress dashboard.
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Document type: Fact sheet
IMPLEMENTING THE INFLATION REDUCTION ACT: A ROADMAP FOR STATE ELECTRICITY POLICY
The Inflation Reduction Act (IRA) of 2022 provides significant tax credits and financing to lower the cost of clean electricity and facilitate the retirement of fossil fuel infrastructure. Independent modeling suggests the IRA could make 73% to 76% clean electricity the lowest-cost pathway for the U.S. by 2030, potentially reducing electricity sector GHG emissions by 67% to 78% from 2005 levels. However, the report argues that realizing these benefits requires proactive state-level policy, including updated procurement assumptions by Public Utility Commissions, increased clean electricity standards from legislators, and strategic coordination by governors to address transmission and supply-chain constraints.
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Document type: Report
The Bottom Line: Why Canada’s Energy Security Hinges on Renewables
The document asserts that Canada's reliance on oil, gas, and coal exposes it to global market volatility and geopolitical risks, as evidenced by record-high fuel prices in 2022. It argues that renewable energy sources like wind and solar are now more cost-effective than fossil fuels and provide long-term price stability because they do not require input fuels. The brief highlights Canada's existing hydroelectric capacity and transmission infrastructure as key assets for integrating variable renewables. It recommends accelerating the electrification of transportation and heating, improving interprovincial grid connectivity, and investing in energy storage to achieve a non-emitting electricity grid by 2035.
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Document type: Policy brief
The 7th ASEAN Energy Outlook 2020 - 2050
The 7th ASEAN Energy Outlook (AEO7) analyzes energy demand, supply, and electricity generation across the ASEAN region through four scenarios: Baseline, AMS Targets (ATS), APAEC Targets (APS), and Least-Cost Optimisation (LCO). It finds that without policy intervention, energy demand will triple by 2050 and fossil fuels will continue to dominate. However, implementing national and regional policies can significantly reduce total final energy consumption and greenhouse gas emissions. The report emphasizes the need for increased energy efficiency, higher renewable energy penetration, and regional grid interconnection to ensure energy security and sustainability.
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Document type: Report
How Distributed Energy Resources Can Lower Power Bills, Raise Revenue in US Communities
Distributed energy resources (DERs), such as rooftop solar, batteries, and electric vehicles, offer US communities opportunities to lower utility bills, increase grid resilience, and generate revenue. The document highlights the role of the Inflation Reduction Act and FERC Order No. 2222 in reducing costs and allowing DER aggregations to participate in wholesale energy markets. It recommends that local governments utilize aggregation, demand response, and federal funding tools to maximize these benefits.
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Document type: Guide
COMMENT ON THE PROPOSED CONCURRENCE WITH THE MINISTERIAL DETERMINATION ON THE PROCUREMENT OF NEW GENERATION CAPACITY OF 3000 MW FROM GAS
The document argues that the procurement of 3,000 MW of gas power is irrational, unlawful, and environmentally harmful. It claims the process was 'tailor-made' for an existing Eskom project, lacked adequate public consultation, and ignores the availability of cheaper, cleaner renewable energy alternatives. The authors assert that gas is not a 'bridging fuel' due to high methane leakage and that such infrastructure risks becoming a stranded asset, thereby threatening South Africa's climate commitments and constitutional rights to a healthy environment.
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Document type: Statement