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World Energy Investment 2025 Japan and Korea
Expanding power investment and keeping adequate electricity supply capacity will be crucial to meet rising electricity demand and ensure stable supply for the economies of Japan and Korea Japan and Korea are two of the most advanced economies in Asia, both having a strong focus on trade with a dependence on energy imports to meet demand. Energy security concerns are spurred by their low energy self-sufficiency rates, Japan at 13% and Korea at 19%. To reduce their reliance on imports and to promote the energy transition, both countries have made significant investment in clean energy, with 92% of total…
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World Energy Investment 2025 China
…the east. Second is the continued expansion of coal, with investment expected to exceed USD 54 billion in 2025. While coal generation could serve as a supplementary backup to renewables, the scale of investment points to a deeper reliance on thermal power, driven by persistent concerns over electricity security.Chinese energy investment has traditionally been dominated by state-owned enterprises and characterised by large-scale infrastructure projects backed by government financing. However, the landscape is beginning to shift. In recent years the government has increasingly encouraged greater private sector participation in energy development. As part of its evolving strategy, China…
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Integrating Solar and Wind in Southeast Asia Executive summary
…wind, hydropower, geothermal and biomass – offering a significant opportunity to secure its energy future. With 20 terawatts of untapped variable renewable energy (VRE) - solar and wind - technical potential (roughly 55 times the region’s current total generation capacity), Southeast Asia is well positioned to meet surging demand whilst reducing dependence on fossil fuels. Solar and wind are now among the most cost-competitive sources of new electricity generation, with solar PV costs falling by 90% since 2010. Harnessing even a fraction of the available renewable resources would enhance energy independence, reduce import costs, and increase sustainability. The ASEAN Vision 2045…
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Global Energy and Climate Model Techno-economic inputs
…costs for the Current Policies Scenario, the Stated Policies Scenario and the Net Zero Emissions by 2050 Scenario can be downloaded in excel format, including detailed projections at the 2050 horizon regarding overnight capital costs, annual O&M costs, efficiencies and other contributors to electricity costs at regional and country-level for over 25 power plant types. Fossil fuel resources The GEC supply modelling relies on estimates of the remaining technically recoverable resource, rather than the (often more widely quoted) numbers for proven reserves. Resource estimates are subject to a considerable degree of uncertainty, as well as the distinction in…
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Global EV Outlook 2025 Electric vehicle batteries
Trends in battery demand Global battery demand for the energy sector hit the 1 TWh milestone in 2024 Electric cars remain the main driver of battery demand, but demand for trucks nearly doubledBattery demand in the energy sector, for both EV batteries and storage applications, reached the historical milestone of 1 TWh in 2024. Demand for one average week alone in 2024 exceeded the total demand for an entire year just a decade earlier. Demand was largely driven by growth in EV sales, as demand for EV batteries grew to over 950 GWh – 25% more than in 2023. Electric cars remain the…
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Global EV Outlook 2026 Trends in electric cars
Electric car sales Electric car sales topped 20 million globally in 2025 One in four new cars sold worldwide was electric in 2025The electric car market reached new highs in 2025, growing by 20% from 2024 to exceed 20 million sales, in line with expectations in the 2025 edition of the Global EV Outlook. The sales share of electric cars in the overall car market increased to 25%. This marked the fifth consecutive year in which annual electric car sales increased by about 3.5 million, a trend that began in 2021 after the Covid‑19 pandemic. As a result, about 5% of the…
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Financing Electricity Access in Africa State of play
…Notably, financing has been one of the primary impediments to growth.For the first time, the IEA has tracked electricity access financing commitments, showing that less than USD 2.5 billion per year is being directed to sub-Saharan Africa. About half of financing (48%) is for access via the grid. However, decentralised solutions – mini-grids and stand-alone systems – have proved essential alternatives and saw a 20% increase in their level of financing between 2019 and 2023.Private finance for electricity access remains limited, reaching USD 640 million (or 25% of total commitments) in 2023. The vast majority of this private…
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Ukraine’s Energy Security A pre-winter assessment
…country's electricity mix remains highly dependent on the three remaining operational nuclear power plants located in western and central Ukraine. Together, they account for 50%, or 7.7 GW, of the country’s electricity generation capacity. Ukraine’s electricity security continues to benefit from the sector’s interconnection with the European grid following its synchronisation in March 2022. This integration has proven vital, enabling imports during peak demand periods while allowing exports that help stabilise Ukraine’s grid and generate revenues when domestic generation is sufficient. In 2024, Ukraine imported a record 4 436 gigawatt-hours (GWh) of electricity…
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Global EV Outlook 2025 Outlook for electric mobility
Overview In this part of the report, we focus on the outlook for electric mobility in road transport over the period to 2030. A scenario-based approach is used to explore the prospects for electric mobility, based on recent market trends, policy drivers and technology developments. The purpose of scenario projections is to assess a plausible future for global electric vehicle (EV) markets and the potential implications. The scenario projections are not intended as predictions about the future. Rather, they aim to provide insights to inform decision-making by governments, companies and other stakeholders about the future of EVs. In…
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Global EV Outlook 2025 Trends in electric car markets
Electric car sales Global electric car sales exceeded 17 million in 2024 More than 20% of new cars sold worldwide were electricElectric car sales topped 17 million worldwide in 2024, rising by more than 25%. Just the additional 3.5 million cars sold in 2024 compared to 2023 outnumber total electric car sales in the whole of 2020. China maintained its lead among major markets, with electric car sales exceeding 11 million – more than were sold worldwide just 2 years earlier. Global sales were slightly tempered by stagnating growth in Europe, as subsidies were phased out or reduced in several major markets, and…