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European clean energy stocks fall amid Trump’s victory and policy concerns

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European clean energy stocks declined sharply following Donald Trump’s US presidential election victory, triggering investor concerns over potential setbacks in US renewable energy support and climate policy.  Trump has signaled intentions to halt offshore wind projects and undo several climate regulations established by Joe Biden, including the Paris Agreement and the Inflation Reduction Act’s clean energy incentives. Following the election, shares of offshore wind developer Ørsted fell by up to 14%, while wind turbine makers…

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IEA report forecasts US$2 trillion clean energy market growth, challenging oil industry dominance

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The International Energy Agency’s (IEA) Energy Technology Perspectives 2024 report predicts rapid expansion in the clean energy market, with investments in solar PV, wind, electric vehicles, batteries, electrolysers, and heat pumps expected to triple by 2035, reaching over US$2 trillion.  This anticipated growth could rival the economic scale of the global oil market, marking a pivotal shift towards a sustainable economy. IEA Executive Director Fatih Birol highlighted the interlinking of energy, industry, and trade policies…