Energy Technology RD&D Budgets Data Explorer

https://www.iea.org/topics/energy-innovation

Public and corporate energy R&D spending has been on the rise globally. Recent years have seen a steady increase in innovation activity. Global public and corporate spending on energy research and development (R&D) has grown at an average annual rate of 6%, though initial estimates for 2024 indicate that growth may be slowing in some advanced economies. Still, globally, public R&D spending is at an all-time high of about $50 billion annually.

Not every funded project will give rise to a radical new technology, but the impacts of this trend promise to be far-reaching. Public R&D investments in response to energy crises in the 1970s, reaching 0.1% of GDP, drove the expansion of nuclear power and reduced many countries’ reliance on imported fuels. Today, IEA Member countries spend just over 0.04% of GDP on energy R&D, with nearly 60% in three areas – energy efficiency, nuclear and renewables.