{"id":40852,"date":"2024-05-09T07:20:26","date_gmt":"2024-05-09T07:20:26","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/clean-energy-tech-boosts-economic-growth"},"modified":"2024-05-09T07:53:16","modified_gmt":"2024-05-09T07:53:16","slug":"clean-energy-tech-boosts-economic-growth","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/clean-energy-tech-boosts-economic-growth","title":{"rendered":"Clean Energy Tech Boosts Economic Growth"},"content":{"rendered":"

Africa-Press – Mauritius. <\/strong><\/span>According to a recently published report by the International Energy Agency, the global manufacturing capacity for solar PV and batteries is already sufficient to meet the requirements of the net zero pathway for this decade. This surge in investment in clean energy technologies is not only driving economic growth but also generating numerous job opportunities in the industrial sector worldwide.<\/p>\n

In a first-of-its-kind analysis, Advancing Clean Technology Manufacturing finds that global investment in the manufacturing of five key clean energy technologies \u2013 solar PV, wind, batteries, electrolysers and heat pumps \u2013 rose to USD 200 billion in 2023, an increase of more than 70% from 2022 that accounted for around 4% of global GDP growth.<\/p>\n

Spending on solar PV manufacturing more than doubled last year, while investment in battery manufacturing rose by around 60%. As a result, solar PV module manufacturing capacity today is already in line with what is needed in 2030 based on the IEA\u2019s net zero emissions scenario. For battery cells, if announced projects are included, manufacturing capacity is 90% of the way towards meeting net zero demand at the end of this decade.<\/p>\n

The report finds that many projects in the pipeline will be operational soon. Around 40% of investments in clean energy manufacturing in 2023 were in facilities that are due to come online in 2024. For batteries, this share rises to 70%.<\/p>\n

\u201cRecord output from solar PV and battery plants is propelling clean energy transitions \u2013 and the strong investment pipeline in new facilities and factory expansions is set to add further momentum in the years ahead,\u201d said IEA Executive Director Fatih Birol. \u201cWhile greater investment is still needed for some technologies \u2013 and clean energy manufacturing could be spread more widely around the globe \u2013 the direction of travel is clear. Policy makers have a huge opportunity to design industrial strategies with clean energy transitions at their core.\u201d<\/p>\n

Clean energy manufacturing is still dominated by a few regions. China, for example, is currently home to more than 80% of global solar PV module manufacturing capacity. However, the report finds that the manufacturing of battery cells could become less geographically concentrated by the end of this decade; if all announced projects are realised, Europe and the United States could each reach around 15% of global installed capacity by 2030.<\/p>\n

New data and analysis based on plant-level assessments of more than 750 facilities indicate that China remains the lowest-cost producer of all clean energy technologies. Battery, wind and solar PV manufacturing facilities are typically 20% to 30% more expensive to build in India than in China, and 70% to 130% more in the United States and Europe. However, the vast majority of total production costs for these technologies (70% to 98%) is estimated to come from operational costs, which include inputs such as energy, labour and materials \u2013 implying that production cost gaps seen today are not immutable and can be influenced by policy.<\/p>\n

The report \u2013 produced in response to a request from G7 Leaders in 2023 \u2013 provides guidance for policy makers as they prepare industrial strategies with a strong focus on clean energy manufacturing. Acknowledging that there is no \u201cone size fits all\u201d approach, it lays out guiding principles that can inform future planning.<\/p>\n

Newsroom<\/b><\/p>\n

For More News And Analysis About Mauritius<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mauritius. According to a recently published report by the International Energy Agency, the global manufacturing capacity for solar PV and batteries is already sufficient to meet the requirements of the net zero pathway for this decade. This surge in investment in clean energy technologies is not only driving economic growth but also generating […]<\/p>\n","protected":false},"author":84,"featured_media":40851,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6],"tags":[233,245,241],"class_list":["post-40852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","tag-africa-press","tag-africa-press-mauritius","tag-mauritius"],"yoast_head":"\nClean Energy Tech Boosts Economic Growth - Mauritius<\/title>\n<meta name=\"description\" content=\"According to a recently published report by the International Energy Agency, the global manufacturing capacity for solar ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/clean-energy-tech-boosts-economic-growth\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Clean Energy Tech Boosts Economic Growth\" \/>\n<meta property=\"og:description\" content=\"According to a recently published report by the International Energy Agency, the global manufacturing capacity for solar ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/clean-energy-tech-boosts-economic-growth\" \/>\n<meta property=\"og:site_name\" content=\"Mauritius\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-09T07:20:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-09T07:53:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2024\/05\/sm_1715224351.007791.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"799\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/clean-energy-tech-boosts-economic-growth#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/clean-energy-tech-boosts-economic-growth\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Clean Energy Tech Boosts Economic Growth\",\"datePublished\":\"2024-05-09T07:20:26+00:00\",\"dateModified\":\"2024-05-09T07:53:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/clean-energy-tech-boosts-economic-growth\"},\"wordCount\":531,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/clean-energy-tech-boosts-economic-growth#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2024\/05\/sm_1715224351.007791.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mauritius\",\"Mauritius\"],\"articleSection\":[\"all news\",\"files\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/clean-energy-tech-boosts-economic-growth#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/clean-energy-tech-boosts-economic-growth\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/clean-energy-tech-boosts-economic-growth\",\"name\":\"Clean Energy Tech Boosts Economic Growth - 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