The clean technology manufacturing investments worldwide have surged to $200 billion last year, up 70% over 2022, according to International Energy Agency (IEA).

 

In its latest report, IEA explained that investments in solar PV and battery manufacturing plants led the way, together accounting for more than 90% of the total in both years. 

 

Investment in solar PV manufacturing more than doubled to around $80 billion in 2023, while investment in battery manufacturing grew by around 60% to $110 billion.

 

The report mentioned that China accounted for three-quarters of the total investments in this field.

 

It noted that the pipeline of clean energy projects is expanding faster, with the expectation that clean manufacturing capacity will meet the necessities of the "net-zero by 2030" scenario ahead of schedule, supported by photovoltaic solar cells.