Global market for key clean tech set to triple to more than $2 trillion over the coming decade

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🗞️ 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%

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