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World energy investment report: electricity is the largest industry for energy investment

Abstract: over the past three years, the global upstream investment in oil and gas has plummeted by 44%, and this year will turn negative. It is expected that there will be a 6% nominal investment growth, especially in the United States, Russia and the Middle East

the world energy investment report released by the International Energy Agency (IEA) recently shows that the total global energy investment in 2016 was about US $1.7 trillion, a decrease of 12% over the previous year after deducting price factors, accounting for 2.2% of the global GDP. For the first time, the power industry surpassed the fossil fuel supply industry and became the industry with the largest energy investment

the report shows that last year, oil and natural gas accounted for two fifths of global energy investment, and the share of low-carbon industries, including electricity, in total energy supply investment increased by 12 percentage points year-on-year to 43%. The report shows that last year, the global power investment fell slowly to US $718billion, a decrease of less than 1%. The growth of power investment offset the decline in power generation investment. Among them, the newly put into operation renewable power installed investment is US $297billion, which is still the largest power investment field. Thanks to the reduction of unit costs and the progress of solar photovoltaic and wind power technologies, although the renewable energy investment has decreased by 3% compared with 5 years ago, the new installed capacity has increased by more than 50%, and the power generation is expected to increase by 35%. At the same time, the investment in coal-fired power plants has decreased significantly, and the newly put into operation and installed capacity has been reduced by nearly 20 gigawatts, which reflects that people are increasingly paying attention to air pollution. The investment in gas and electricity remained stable last year, nearly half of which was concentrated in North America, the Middle East and North Africa, which are rich in natural gas resources. 5.3. There are over oil temperature shutdown protection, over oil pressure shutdown protection and low liquid level alarm in the oil source. In terms of nuclear power, 10 gigawatts of nuclear power installed capacity was put into operation last year, which has reached a new high in the world's largest machinery and equipment market for nearly 15 years. However, only 3 gigawatts of nuclear power began construction, 60% lower than the average of the past 10 years

investment in electricity and energy storage continued to maintain a steady growth momentum. Last year, the investment in this field reached a record 277billion US dollars, of which 30% came from the investment in China's distribution system. India and Southeast Asian countries are in the stage of rapid expansion of electricity, with investment accounting for 15% of the world. In the United States (accounting for 17% of the total investment) and Europe (accounting for 13%), the proportion of investment in replacing aging transmission and distribution assets is increasing. IEA believes that global power is in the stage of modernization and reform, and is transforming from a simple transmission business to an integrated data and service platform. This transformation is driven by the rapid progress of digital information and communication technology, which has increased to 10% of electricity investment. Many industry insiders are not optimistic about the effect of regulation. In addition, the investment in electric energy storage is growing rapidly, with an investment of more than $1billion last year

although energy prices continue to fall, energy efficiency investment has bucked the trend. The report shows that last year's investment in energy efficiency increased to 231billion US dollars, of which China's investment in this field increased the fastest. IEA pointed out that with the strengthening of China's energy efficiency policies and the structural transformation of China's economy, the impact of the gravity of the sample itself will be minimized, and the energy intensity of the economy will be reduced. The report believes that although emerging economies are gradually improving the energy performance standards of equipment, there is still much room for improvement. For example, the new air conditioners sold in 2016 led to an increase of 90 terawatts in global power demand. If all countries in the world implement the highest energy efficiency standards, this figure is expected to be reduced by 40%. Last year, global sales of heat pumps increased by 28% and electric vehicles by 38%, which helped improve overall energy efficiency

The report shows that as the world's largest energy investment destination, China's energy investment accounts for 21% of the global total. IEA pointed out that the number of new coal-fired power plants put into operation in China fell by 25% last year, and energy investment is increasingly driven by low-carbon power supply, power construction and energy efficiency investment. U.S. oil and gas investment fell sharply last year, but thanks to the development of renewable energy industry, its share in global energy investment rose to 16%, ranking second in the world. In India, thanks to the government's efforts to promote the modernization of the power system and the popularization of power supply, energy investment in India surged by 7%, further consolidating its position as the third largest investment destination

looking ahead, IEA believes that upstream investment in oil and gas will rebound moderately in 2017. Over the past three years, the global upstream investment in oil and gas has plummeted by 44%, and this year will turn negative, with a nominal investment increase of 6%, especially in the United States, Russia and the Middle East

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