The recently released IEA World Energy Investment 2024 Report forecasts a significant surge in global clean energy investment, with projections to reach nearly double that of fossil fuels by 2024. Total energy investment worldwide is set to surpass US$3 trillion in 2024, of which approximately US$2 trillion will be directed towards clean technologies. Solar PV is at the forefront of this transition, with investments expected to hit US$500 billion in 2024, fueled by decreasing module prices. China is poised to lead in clean energy investment, with an expected US$675 billion, followed by Europe and the USA with US$370 billion and US$315 billion, respectively. The report underscores the disparity in clean energy spending between developed and developing economies, attributing high capital costs as a significant constraint. Grids and electricity storage have been identified as key challenges, with notable increases in spending attributed to new policies and funding initiatives in various regions. The IEA executive director, Fatih Birol, expressed optimism about the momentum behind the global energy transition, highlighting that for every dollar invested in fossil fuels, nearly two are directed towards clean energy. Despite rising clean energy investments in the Middle East, predominantly in solar PV, the region remains heavily reliant on fossil fuels, accounting for 85% of total energy investment. However, efforts are underway to boost clean energy in the region, with Saudi Arabia targeting significant renewable capacity expansion by 2030 and several countries investing in blue and green hydrogen projects and critical minerals.