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In 2023, investment in clean energy manufacturing shot up 70% from 2022

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A fresh report from the International Energy Agency (IEA) underscores the burgeoning momentum of solar and battery manufacturing as a robust force propelling the global economy forward.
According to the IEA's groundbreaking analysis titled "Advancing Clean Technology Manufacturing," investments in the production of five pivotal clean energy technologies—solar, wind, batteries, electrolyzers, and heat pumps—surged to $200 billion in 2023. This marked a remarkable upsurge of over 70% from the previous year.


Notably, a significant portion of investments in clean energy manufacturing is on the verge of fruition. Approximately 40% of the investments made in 2023 are slated for facilities expected to commence operations in 2024, with the proportion escalating to 70% for battery manufacturing.
Despite China's continued dominance, hosting over 80% of global solar PV module manufacturing capacity, a potential shift is envisaged in battery cell manufacturing by 2030. If ongoing projects materialize, Europe and the US could each command roughly 15% of the global installed capacity.
Commissioned by G7 Leaders in 2023, the report serves as a strategic tool to assist policymakers in formulating industrial strategies geared towards fostering clean energy manufacturing.
Based on:  https://electrek.co

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