· 2 min read
illuminem summarizes for you the essential news of the day. Read the full piece on IEA or enjoy below:
🗞️ Driving the news: The International Energy Agency (IEA) reports that the global clean technology market will triple to over $2 trillion by 2035, fueled by growth in solar, wind, EVs, and more
• This shift highlights key decisions for governments balancing energy, trade, and industrial policies to enhance both environmental and economic resilience
🔭 The context: The "Energy Technology Perspectives 2024" report examines the potential of major clean energy technologies across established and emerging economies
• China, the U.S., the EU, and India currently lead in investment, while regions like Southeast Asia and Latin America could soon become competitive hubs for solar and wind manufacturing
🌍 Why it matters for the planet: Expanding clean tech manufacturing worldwide could reduce fossil fuel reliance, improve energy security, and help meet climate goals
• The transition also offers emerging economies a chance to advance in the green economy, leveraging resources to create a diversified, sustainable energy market
⏭️ What's next: To maximize benefits, the IEA urges policymakers to pursue strategic partnerships, boost green infrastructure, and lower financing barriers for emerging markets
• This approach aims to secure global supply chains and ensure broad access to clean energy
💬 One quote: “Growth in the manufacturing and trade of clean energy technologies should be for the benefit of many economies, not just a few” – IEA Executive Director Fatih Birol
📈 One stat: The trade value of clean energy technologies will triple to $575 billion by 2035, surpassing global natural gas trade by over 50%
Click for more news covering the latest on energy transition
