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IEA launches global report on clean energy and technology supply chains

IEA has come up with a new publication Energy Technology Perspectives 2023, which is regarded as the world’s first guidebook for future’s clean technology industries.

The global guidebook provides a comprehensive analysis of global manufacturing of clean energy technologies and their supply chains across the world.

It includes technologies of solar panels, wind turbines, EV batteries, electrolysers for hydrogen and heat pumps and their evolving as the clean energy transition advances in future.

The report highlights both major market and opportunities and emerging risks for countries which are putting efforts to lead the clean energy industries. It provides analysis on technology supply chains considering energy security, resilience and sustainability, based on the latest energy, commodity and technology data, and recent energy, climate and industrial policy announcements.

The flagship publication was launched by IEA Executive Director Fatih Birol, who stated that the clean energy technology is flourishing around the globe today. He focused on three major drivers of growth, energy security, climate commitments and pushing clean energy technology options by the manufacturers.

Birol highlighted that the world is entering a new industrial age, the age of clean energy technology manufacturing.

Fatih Birol, commented, “The IEA highlighted almost two years ago that a new global energy economy was emerging rapidly. Today, it has become a central pillar of economic strategy and every country needs to identify how it can benefit from the opportunities and navigate the challenges. We’re talking about new clean energy technology markets worth hundreds of billions of dollars as well as millions of new jobs.”

He further stated, “The encouraging news is the global project pipeline for clean energy technology manufacturing is large and growing. If everything announced as of today gets built, the investment flowing into manufacturing clean energy technologies would provide two-thirds of what is needed in a pathway to net zero emissions. The current momentum is moving us closer to meeting our international energy and climate goals – and there is almost certainly more to come.”

He also stressed on healthy degree of international collaboration for expansion of clean technology manufacturing and the new energy economy.

Stating that this new industry can bring billions of market and create millions of jobs, Birol said that the guidebook can be looked at by the countries and can decide for themselves about adopting the appropriate policies.

On the occasion, Timur Gui, Head of Energy Technology Policy Division at IEA, had presented about the main findings of the detailed analysis of the report. He stated that clean technology supply chains concentration risks extend beyond mining, while benefit from international trade, where investment is on the rise.

“Supply chains today are heavenly geographically concentrated…concentration at any point at any supply chain, it is a risk, it makes entire supply chain vulnerable whether they are related to natural disasters, technical failures, individual company policies or so.”