World Energy Investment Special ReportReducing the Cost of CapitalStrategies to unlock clean energy investment in emerging and developing economiesINTERNATIONAL ENERGYAGENCYIEA member countries: Australia Austria BelgiumCanadaCzech Republic DenmarkEstoniaFinland France Germany Greece HungaryIreland ItalyJapanKoreaLithuania Luxembourg Mexico Netherlands New Zealand NorwayPoland Portugal Slovak Republic Spain Sweden Switzerland Republic of Türkiye United Kingdom United StatesThe European Commission also participates in the work of the IEAIEA association countries: Argentina BrazilChinaEgyptIndiaIndonesiaKenyaMoroccoSenegalSingaporeSouth AfricaThailandUkraineThe IEA examines the full spectrum of energy issues including oil, gas and coal supply and demand, renewable energy technologies, electricity markets, energy efficiency, access to energy, demand side management and much more. Through its work, the IEA advocates policies that will enhance the reliability, affordability and sustainability of energy in its 31 member countries, 13 association countries and beyond. This publication and any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area.Source: IEA.International Energy Agency Website: www.iea.orgAcknowledgements 3 Acknowledgements This report was prepared by the Energy Investment Unit in the Office of the Chief Energy Economist (OCEE) Division of the Directorate of Sustainability, Technology and Outlooks (STO). It was designed and directed by Tim Gould, Chief Energy Economist, and Cecilia Tam, Acting Head of the Energy Investment Unit. Lucila Arboleya Sarazola supported the design of the report and led co-ordination of the report together with Siddharth Singh. Chapter 1 was co-led by Lucila Arboleya Sarazola and Cecilia Tam. Chapter 2 was co-led by Siddharth Singh and Lucila Arboleya Sarazola. Other principal authors of the report were Tanguy de Bienassis (led buildings and end use); Musa Erdogan (co-led storage and Chapter 1); David Fischer (co-led storage); Emma Gordon (led hydro); Alana Rawlins Bilbao (led electricity grids); and Peter Zeniewski (led advanced fuels). Emile Belin-Bourgogne and Ryszard Pospiech provided support across sectors. Eleni Tsoukala provided essential support and Erin Crum was the copy editor. The report also benefited from input provided by numerous IEA colleagues, in particular Heymi Bahar, Trevor Criswell, Christophe McGlade, Michael Waldron and Brent Wanner. Additional thanks go to the IEA Communications and Digital Office (CDO) Division for their help producing the report and website materials, particularly to Jethro Mullen, Acting Head of CDO, and Curtis Brainard, Astrid Dumond, Lucile Wall, Therese Walsh, Isabelle Nonain-Semelin, Oliver Joy and Poeli Bojorquez. Special thanks also go to the IEA Fi...
