Tag: IEA

Rapid rollout of clean technologies makes energy cheaper, not more costly

Stuart Mitchell

Key task for governments is to make clean energy technologies more accessible to those that may otherwise struggle with the upfront costs, new IEA special report finds Speeding up the move to clean energy technologies improves the affordability of energy and can relieve pressures on the cost of living more broadly, according to a new IEA special report released today. The report, Strategies for Affordable and Fair Clean Energy Transitions, shows how putting the world on track to meet net zero emissions by 2050 requires additional investment but also reduces…

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Sharp declines in critical mineral prices mask risks of future supply strains as energy transitions advance

Stuart Mitchell

Prices for key minerals used in clean energy technologies dropped in 2023, but new IEA analysis shows need for greater and more diversified investment to support efforts to reach energy and climate goals Pressure eased in 2023 on the market for minerals that go into electric vehicles, wind turbines, solar panels and other clean energy technologies, as supply outpaced surging demand. But a new report from the International Energy Agency finds that major additional investments are still needed to meet the world’s energy and climate objectives. The Global Critical Minerals…

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Clean technologies are driving job growth in the energy sector, but skills shortages are an increasing concern

Stuart Mitchell

IEA report examines energy employment worldwide by region and technology, offering vital analysis on the industry’s evolving labour needs. The number of jobs in the global energy sector rose in 2022 as growing investment in clean energy technologies drove demand for new workers in every region of the world, according to a new IEA report that offers a benchmark for employment across all energy industries. The second edition of the World Energy Employment report, which is published annually, maps energy sector employment by region, fuel, technology, and value chain. The report provides…

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Clean energy investment is extending its lead over fossil fuels, boosted by energy security strengths

Stuart Mitchell

Investment in clean energy technologies is significantly outpacing spending on fossil fuels as affordability and security concerns triggered by the global energy crisis strengthen the momentum behind more sustainable options, according to a new IEA report. About USD 2.8 trillion is set to be invested globally in energy in 2023, of which more than USD 1.7 trillion is expected to go to clean technologies – including renewables, electric vehicles, nuclear power, grids, storage, low-emissions fuels, efficiency improvements and heat pumps – according to the IEA’s latest World Energy Investment report.…

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Demand for electric cars is booming, with sales expected to leap 35% this year after a record-breaking 2022

Stuart Mitchell

Global sales of electric cars are set to surge to yet another record this year, expanding their share of the overall car market to close to one-fifth and leading a major transformation of the auto industry that has implications for the energy sector, especially oil. The new edition of the IEA’s annual Global Electric Vehicle Outlook shows that more than 10 million electric cars were sold worldwide in 2022 and that sales are expected to grow by another 35% this year to reach 14 million. This explosive growth means electric…

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