IEA report on Energy Technology R&D Budgets

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The estimated total public energy research, development and demonstration (RD&D) budget for IEA member countries increased by 5 percent reaching USD 26.4 billion in 2023. This was the seventh consecutive year of increase, IEA said in its report.

In 2023, energy efficiency technologies accounted for the largest share of the total with 24 percent, followed by nuclear with 21 percent. Notably, hydrogen and fuel cells investments have increased to 9 percent. Belgium and Korea, for example, have increased the share of hydrogen from, respectively, 1 to 27 percent and 7 to 17 percent in the past five years.

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