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