The International Energy Agency (IEA) projects that the global market for key clean technologies is set to triple, surpassing $2 trillion over the next decade.
Their report looks at the top six mass-manufactured clean technologies: solar PV, wind turbines, electric cars, batteries, electrolyzers and heat pumps.
The $2 trillion figure is close to the value of the world’s crude oil market in recent years.
Notably, China, the European Union, the U.S., and India are a large part of this expansion, all with goals to enhance energy security, maintain economic competitiveness, and reduce emissions.
This growth may present opportunities for countries to manufacture and trade clean technologies, but it also introduces complex decisions regarding industrial and trade policies.
