Clean Energy Manufacturing Investments Supporting Growth, Iea Report Says
Solar Industry 2:57 pm on May 9, 2024
The International Energy Agency (IEA) report highlights the surge in global investments for clean energy manufacturing, with PV and battery sectors witnessing significant growth. This trend supports an accelerating solar industry, underscored by robust production from existing facilities expected to contribute substantially in 2023. The IEA suggests a strategic role for policy makers in fostering global renewable energy transitions through industrial strategy design.
- Report release: International Energy Agency (IEA) releases "Advancing Clean Technology Manufacturing" report.
- Investment rise: Global investment in PV manufacturing, batteries, electrolysers, and heat pumps reached $200 billion with a substantial increase from 2022.
- Technology impact: Over 40% of the 2023 investments target new facilities, enhancing solar PV and battery plant output, propelling clean energy transitions.
- Regional dominance: China leads in global PV module manufacturing capacity with over 70% share.
- Policy implication: The IEA advises policy makers to integrate clean energy transitions into industrial strategies, emphasizing renewable technologies' importance.
https://solarindustrymag.com/clean-energy-manufacturing-investments-supporting-growth-iea-report-says