The inaugural "State of Energy Policy 2024" report by the International Energy Agency (IEA) offers a comprehensive global review of energy policies across more than 60 countries. Covering the period from June 2023 to September 2024, the report highlights the significant developments in energy security, clean energy transitions, and policy responses to the global energy crisis. Key sections include energy security risks, driven by geopolitical tensions and supply chain disruptions, and the acceleration of clean energy investments, with over USD 2 trillion earmarked globally since 2020. The report emphasizes the role of government interventions in managing energy prices and advancing clean energy technologies, with notable policy shifts in clean energy supply chains, critical minerals, and regulations on energy performance. The document also examines trade policies related to clean energy technologies, highlighting emerging trends in tariff adjustments and the impact of free trade agreements on energy transitions. It serves as a valuable resource for understanding global energy trends, policy gaps, and emerging areas of focus for ensuring a secure and sustainable energy future.
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- France
Table of Contents
- State of Energy Policies 2024 1
- Key findings 3
- Key findings 4
- Countries covering one-third of energy-related CO2 emissions earmarked new clean energy spending last year; those representing one-fifth of emissions adopted new energy regulations 8
- Governments continue to allocate more long-term investment support to clean energy, with over USD 2 trillion in fresh allocations since 2020 9
- Trade policies related to key clean energy technologies sharply increased in the early 2020s 10
- State of Energy Policy 2024 11
- Understanding the State of Energy Policy report 12
- Scope 12
- International commitments and climate pledges 13
- Few new updates or announcements of long-term climate goals occurred in the past 12 months 14
- All sights are now set on 2025 to update Nationally Determined Contributions and long-term strategies in advance of COP30 15
- Net zero pledges in 2024 15
- Nationally Determined Contributions in 2024 16
- Government energy spending 17
- Advanced economies earmarked three times more support for clean energy than in emerging market and developing economies, with greater focus on boosting long-term investor certainty 18
- 80% of earmarked government spending is concentrated in three regions: the United States, the European Union and China 19
- Newly earmarked government support for clean energy in 2024 brings total since the Covid-19 pandemic to USD 2 trillion 20
- The energy crisis prompted governments worldwide to spend close to USD 940 billion in affordability support, with most schemes phased down as of 2024 22
- Securing clean energy transitions 24
- Concentration in clean energy supply chains is becoming a key focus for policy makers 25
- Direct government support for domestic manufacturing is on the rise everywhere 26
- Several clean energy technologies have seen a large share of government incentives directed towards promoting domestic manufacturing activities 27
- Securing critical mineral supply chains is drawing policymakers’ attention but remains vital, especially for refined materials 28
- Trade policies 29
- The rise in trade policies, particularly since 2020, affects solar PV, electric vehicle and battery industries 30
- Trade policies related to clean energy transitions have become more prominent since 2020 32
- Most recent changes in trade policy are tariff adjustments 32
- Non-tariff measures are also playing a significant role 33
- Free trade agreements established since 2020 largely still enable free exchange of clean energy technologies among G20 partners 34
- 95% of free trade agreements still extend preferential trade status to many decarbonising technologies 35
- Power 36
- Power Sector Snapshot 37
- Financial incentives remain the most-favoured policy driver for new power sector investments 38
- Incentives remain the determining policy measure for attracting renewable investments 38
- Ambitions to phase-down coal power gain ground 40
- Direct CO2 regulation and pricing continues to expand, with new emissions guidelines in the United States 41
- Power sector: State of energy policy in G20 countries, 2024 42
- Buildings 44
- Buildings Sector Snapshot 45
- Standards for appliances are gradually being made more stringent 47
- Regulation is increasing quality and quantity of retrofits 49
- Covid-19 recovery packages continue to sustain higher levels of energy efficiency spending 49
- Buildings sector: State of energy policy in G20 counties, 2024 51
- Road transport 53
- Road Transport Sector Snapshot 54
- Electric vehicle incentives and more stringent fuel economy standards drive the greatest advances in road transport efficiency 55
- New fuel efficiency standards drive producers towards more electric vehicles in their line-ups 56
- Many countries continue to provide consumer incentives for electric vehicles, much of it for manufacturing 57
- Road transport sector: State of energy policy in G20 countries, 2024 58
- Industry 60
- Industry Sector Snapshot 61
- New industrial energy efficiency and decarbonising policies show few advances, amidst broader concerns on supply chain security and competitiveness 62
- Energy efficiency remains the preferred lever for policy makers, and enjoys broad coverage already 63
- Industry sector: State of energy policy in G20 countries, 2024 65
- Fuel industry 67
- Fuel Industry Snapshot 68
- Incentives for fossil fuel production remain in place in many G20 countries, but the share of support for low-emissions fuels is increasing 69
- Plans to phase-down support of oil, gas or coal production are yet to be fully implemented 69
- Governments are increasing direct support to low-emissions fuel production 70
- Fuel production: State of energy policy in G20 countries, 2024 71
- Annex 73
- Acknowledgements 74
- Abbreviations and acronyms 75
