The International Energy Agency (IEA) has released its “Advancing Clean Technology Manufacturing” report, which finds that global investment in the manufacturing of PV, wind, batteries, electrolysers and heat pumps rose to $200 billion last year, a 70% increase from 2022.
Spending on PV manufacturing more than doubled last year, while investment in battery manufacturing rose by 60%, the report further finds. Around 40% of investments in clean energy manufacturing in 2023 were in facilities that are due to come online this year. For batteries, this share rises to 70%.
“Record output from solar PV and battery plants is propelling clean energy transitions, and the strong investment pipeline in new facilities and factory expansions is set to add further momentum in the years ahead,” says Fatih Birol, IEA executive director.
“While greater investment is still needed for some technologies, and clean energy manufacturing could be spread more widely around the globe, the direction of travel is clear. Policy makers have a huge opportunity to design industrial strategies with clean energy transitions at their core.”
Clean energy manufacturing is still dominated by a few regions. China, for example, is currently home to more than 80% of global PV module manufacturing capacity.
The report, produced in response to a request from G7 leaders last year, is meant to provide guidance for policy makers as they prepare industrial strategies focused on renewables manufacturing.
The post Clean Energy Manufacturing Investments Supporting Growth, IEA Report Says appeared first on Solar Industry.
Clean Energy Manufacturing Investments Supporting Growth, IEA Report Says
Renewable Energy
ACORE Statement on Treasury’s Safe Harbor Guidance
ACORE Statement on Treasury’s Safe Harbor Guidance
Statement from American Council on Renewable Energy (ACORE) President and CEO Ray Long on Treasury’s Safe Harbor Guidance:
“The American Council on Renewable Energy (ACORE) is deeply concerned that today’s Treasury guidance on the long-standing ‘beginning of construction’ safe harbor significantly undermines its proven effectiveness, is inconsistent with the law, and creates unnecessary uncertainty for renewable energy development in the United States.
“For over a decade, the safe harbor provisions have served as clear, accountable rules of the road – helping to reduce compliance burdens, foster private investment, and ensure taxpayer protections. These guardrails have been integral to delivering affordable, reliable American clean energy while maintaining transparency and adherence to the rule of law. This was recognized in the One Big Beautiful Act, which codified the safe harbor rules, now changed by this action.
“We need to build more power generation now, and that includes renewable energy. The U.S. will need roughly 118 gigawatts (the equivalent of 12 New York Cities) of new power generation in the next four years to prevent price spikes and potential shortages. Only a limited set of technologies – solar, wind, batteries, and some natural gas – can be built at that scale in that timeframe.”
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ABOUT ACORE
For over 20 years, the American Council on Renewable Energy (ACORE) has been the nation’s leading voice on the issues most essential to clean energy expansion. ACORE unites finance, policy, and technology to accelerate the transition to a clean energy economy. For more information, please visit http://www.acore.org.
Media Contacts:
Stephanie Genco
Senior Vice President, Communications
American Council on Renewable Energy
genco@acore.org
The post ACORE Statement on Treasury’s Safe Harbor Guidance appeared first on ACORE.
https://acore.org/news/acore-statement-on-treasurys-safe-harbor-guidance/
Renewable Energy
Should I Get a Solar Battery Storage System?
Renewable Energy
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