What We Do
The Institute for Energy Economics and Financial Analysis (IEEFA) examines issues related to energy markets, trends, and policies. The Institute’s mission is to accelerate the transition to a diverse, sustainable and profitable energy economy.
About us
The Institute for Energy Economics and Financial Analysis (IEEFA) provides independent, evidence-based financial analysis of global energy markets, investment trends, and policies. IEEFA’s work helps investors, policymakers, regulators, communities and the media better understand risks, opportunities and market dynamics shaping the energy transition.
What we do
IEEFA combines global perspective with regional expertise, with core teams in North America, Europe, Asia, South Asia, and Australia, while also covering developments in other markets.
We analyze how energy systems are evolving, where capital is flowing, and how policy and market shifts shape investment decisions.
Our work focuses on key areas shaping energy markets, including power systems, fossil fuels, renewable energy, and emerging technologies. We produce analytical reports, briefings, data tools, and commentary designed to be clear, practical and relevant to decision-makers.
How we work
IEEFA’s approach is grounded in rigorous financial analysis, clear communication, and targeted engagement.
We work to ensure our analysis reaches those who influence markets and policy – through direct engagement, partnerships and media – helping inform decisions and strengthen understanding of energy market trends.
IEEFA is a global team of energy finance analysts, communications experts, and management professionals, based in Asia, Australia, Europe, North America, and South Asia. Each team member brings specialized experience – whether in investment decision-making, utility resource planning, banking, economic policy, public relations or campaign development – that creates a unique fusion of insight and expertise.
IEEFA’s market-based research shows how the rise of the new energy economy, where renewable energy sources are steadily eroding reliance on fossil fuels, makes financial sense for investors, governments, businesses, communities and ratepayers.
Funding Acceptance Policy
The Institute for Energy Economics and Financial Analysis (IEEFA) values the trust placed in us by our supporters and the public.
To maintain our integrity, credibility, and independence, we adhere to the following principles in our gift acceptance policy:
1. Independence of Research and Advocacy
We do not accept funding that could influence—or appear to influence—our research findings, conclusions, or policy positions. All funding must align with our mission and core values and may not direct or shape specific research outcomes or content.
2. Conflict of Interest
We do not accept gifts that would create a conflict of interest.
3. Reputational Risk
We do not accept funding that could compromise, or appear to compromise, our reputation as an independent, objective, and mission-driven organization.
4. Donor Transparency
The identity of donors must be known to us, although we will honor requests for public anonymity.
5. Complexity and Compliance
We reserve the right to decline gifts that are unduly complicated, impose burdensome restrictions, or require disproportionate administrative or legal oversight.
6. Government Funding
We do not accept funding from governments, state-owned enterprises, sovereign wealth funds, government-controlled NGOs, or nonprofits that receive a majority of their funds from governments.
7. Corporate and Trade Association Funding
We do not accept funding from entities with a significant commercial interest in the outcomes of our work, such as corporations or industry trade groups.
Board Review and Approval
In certain cases, gifts may warrant additional scrutiny due to their size, source, restrictions, or potential reputational or strategic implications. These may include—but are not limited to—donations from new funders, unusually complex gifts, or those that may present real or perceived risks to our independence.
In such cases, the CEO (or those acting in a like role at the time of gift) will refer the gift to the Board of Directors (or designated committee thereof) for review and approval. The Board retains the authority to accept or decline any gift at its discretion, based on alignment with the organization’s mission, values, and this policy.
Financial Information
The Institute for Energy Economics and Financial Analysis is a U.S. non-profit corporation, recognized by the IRS as a 501(c)(3) tax-exempt corporation.
IEEFA receives its funding from global philanthropic organizations and individuals. We do not accept money from governments or from corporations with a commercial interest in our work. We do not accept any funding that could influence our research findings, conclusions or policy positions.
IEEFA’s annual tax returns (990s) and audited financial statements are available here:
2025: 990, Financial Statement
2024: 990, Financial Statement
2023: 990, Financial Statement
2022: 990, Financial Statement
2021: 990, Financial Statement
2020: 990, Financial Statement
2019: 990, Financial Statement
2018: 990, Financial Statement
2017: 990, Financial Statement
The financial statements include the operations of IEEFA's subsidiary, IEEFA Australia Ltd., which commenced operations in 2022. IEEFA Australia Ltd. is registered in Australia as a not-for-profit limited by guarantee corporation.
IEEFA Impact
Our work has helped change the rules of the game on capital investment in both the public and private sectors. In documented cases around the world, IEEFA research has been used by decision-makers, investors, policymakers, communities, and other stakeholders to inform investment, policy and regulatory decisions.
IEEFA’s independent, nonpartisan and evidence-based approach provides solid ground for assessing the costs, risks and opportunities of a changing energy market, making sound decisions, and challenging misinformation.
