Global energy investment is set to reach $3.4 trillion in 2026, with about $2.2 trillion going to clean energy, grids, storage and efficiency, according to the International Energy Agency’s World Energy Investment 2026. That is nearly double the roughly $1.2 trillion going to oil, gas and coal.
The 2026 edition was shaped by disruption: the IEA says conflict in the Middle East and shipping disruptions through the Strait of Hormuz are pushing investment plans toward energy security.
About the report
| Publisher | International Energy Agency (IEA) |
| Released | May 2026 |
| Data covered | First full-year estimates of 2026 energy investment, by fuel, technology and region |
| Latest edition? | Yes, as of October 2026. The IEA publishes this report every year |
World Energy Investment is the IEA’s annual benchmark of capital spending on energy supply, grids, storage and end-use efficiency. Figures for 2026 are estimates based on announced plans and early-year data, so they can move as the year closes.
Key findings
- Total energy investment reaches $3.4 trillion in 2026, a slight increase on 2025, according to the IEA.
- About $2.2 trillion goes to grids, storage, low-emissions fuels, nuclear, renewables, efficiency and electrification, against about $1.2 trillion for oil, natural gas and coal, the World Energy Investment 2026 estimates.
- Oil investment falls below $500 billion, while gas rises to $330 billion and coal to $180 billion, according to the IEA.
- Grid investment approaches $550 billion, up nearly 20% year on year, the report finds.
- Renewables draw about $665 billion, of which $365 billion goes to solar, and battery storage investment is set to exceed $100 billion, according to the IEA.
- Higher financing costs in emerging economies could hit capital-intensive energy technologies hardest, and Asia and the Middle East are the regions most exposed to disruption through the Strait of Hormuz, the IEA warns.
Where the money goes in 2026, according to the IEA:
| Category | Estimated 2026 investment |
|---|---|
| Total energy investment | $3.4 trillion |
| Clean energy, grids, storage and efficiency | About $2.2 trillion |
| Oil, gas and coal | About $1.2 trillion |
| Renewables (all) | About $665 billion |
| Grids | Close to $550 billion |
| Solar | $365 billion |
| Battery storage | More than $100 billion |
What the IEA’s 2026 investment data means for energy access and climate ventures
The aggregate looks healthy. The distribution is the problem. Clean energy capital is abundant where financing is cheap, and the IEA itself flags that higher borrowing costs in emerging economies weigh most on the capital-heavy assets they need.
- Cost of capital is the real gap. For impact investors, de-risking tools such as guarantees, local currency lending and first-loss tranches do more for energy transition in Africa and South Asia than adding to already crowded markets.
- Grids and storage are the growth story. A near 20% rise in grid spending and more than $100 billion for batteries point to opportunities in distribution, mini-grids, metering and storage services, segments where smaller enterprises can compete.
- Security now shapes energy policy in MENA. Disruption around the Strait of Hormuz affects import-dependent economies in the region. Distributed solar and storage make a stronger case when framed as resilience.
Energy is also where impact investors say they plan to grow: see our summary of the GIIN State of the Market 2025 for allocation intentions by sector.
Download the full report
The IEA publishes World Energy Investment 2026 and its regional dashboards on its website. The report is authored by the IEA, not by Impact DOTS.
FAQ
About $3.4 trillion, according to the IEA’s World Energy Investment 2026.
About $2.2 trillion goes to grids, storage, low-emissions fuels, nuclear, renewables, efficiency and electrification.
About $1.2 trillion, with oil below $500 billion, gas at $330 billion and coal at $180 billion.
The International Energy Agency, which releases it every year. The 2026 edition was published in May 2026.
No. They are full-year estimates based on plans and early data, and the IEA revises them in later editions.
Sources
- IEA: Impacts of Middle East conflict set to reshape energy investment plans, news release
- IEA: World Energy Investment 2026
