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.
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Clean Energy Manufacturing Investments Supporting Growth, IEA Report Says
It depends on what you believe.
Fox News will tell you that our southern border is no longer being overrun, that we’ve discovered that vaccinations are unsafe, that we’re standing up against Sharia Law, we’re preventing Iran from building a nuclear weapon, prices are coming down (or soon will be), Trump is an honest and effective servant of the American people and that the U.S. is once again respected on the world stage.
We live in a country where tens of millions of idiots believe every word of this.
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I met a guy today from a rural part of Central England–“nothing but farms and pubs,” as he put it. His father was an epidemiologist working for the United Nations, and so, as a boy, he lived all over the world and grew up largely in developing countries that suffered from horrific diseases.
He and his wife had the conversation one would expect from such people:
- Why are we so content to ignore climate change that is ruining our planet?
- Why are people so indifferent to the suffering of others?
- How is it possible that billionaires expect to live well here on Earth while 99.9% of us suffering with wildfires, devastating storms, blistering heat, losses of landmasses, and desertification?
- At the end of the day, is money really that precious?
Obviously, not everyone thinks this way, but to be in something of a “lovefest” for just a few minutes was a great relief.
relief.
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