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  • The growth of clean energy technologies offers opportunities for countries looking to manufacture and trade them.


    At the same time, it presents challenging decisions for governments, which face tensions and trade-offs based on the industrial and trade policies they opt to pursue.

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  • Energy Technology Perspectives 2024 – the latest instalment of the IEA’s flagship technology report – explores these dynamics.


    It focuses on the outlook for the top six mass-manufactured clean energy technologies: solar PV, wind turbines, electric cars, batteries, electrolysers and heat pumps.  

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  • Based on today’s policy settings, the global market for these technologies is set to triple by 2035, and international trade in them is set to expand as well.


    At the same time, governments’ industrial and trade policies bring significant uncertainties to the outlook.

    Etp Market Share 2024

  • Investment in clean technology manufacturing has been surging as countries look to gain an economic edge, strengthen energy security and reduce emissions.


    Most of the factories are in China, the European Union, the United States, and increasingly India, but the opportunities are global. 

    Global investment in clean energy technologies, 2022-2023

  • International trade is vital to many sectors of the global economy, and clean technologies are no exception.


    Under today’s policy settings, trade in the top clean technologies is on track to triple to $575 billion by 2035, over 50% higher than the value of natural gas trade today.

    Inter-regional trade value of fossil fuels and key clean energy technologies by scenario, 2023-2050

  • A changing energy economy brings new energy security considerations, such as supply chain diversity and the need to monitor certain maritime chokepoints. Around half of all maritime trade in clean energy technologies passes through the Strait of Malacca.


    While the considerations for energy security differ, this is significantly more than the roughly 20% of fossil fuel trade that passes through the Strait of Hormuz. 

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  • Learn more about Energy Technology Perspectives 2024