According to a groundbreaking report by the International Energy Agency (IEA), the global market for clean energy technologies is set to soar from $700 billion in 2023 to more than $2 trillion by 2035. This rapid growth mirrors the scale of the world’s crude oil market in recent years, signaling a major shift towards renewable and clean energy sources.
The IEA’s first-of-its-kind study highlights the rapid acceleration of clean energy investment, driven by the increasing demand for sustainable energy solutions and a growing commitment to tackling climate change. As governments and industries continue to embrace the transition to greener technologies, this surge in market value is expected to reshape the global energy landscape.
The report underscores the growing importance of renewable energy, with clean energy technologies becoming integral to achieving environmental goals and ensuring a sustainable energy future.
About the International Energy Agency (IEA):
The IEA is an autonomous intergovernmental organization established in 1974 within the OECD framework. It was created in response to the 1973-74 oil crisis to ensure the security of global oil supplies. Over the years, its mandate has expanded to include energy security, environmental protection, and promoting clean energy solutions.
The IEA now provides data, analysis, and policy advice on all energy types, including fossil fuels, renewables, and emerging technologies. India became an associate member of the IEA in 2017. The IEA publishes reports such as World Energy Outlook and Net Zero by 2050 to track energy trends and guide global energy policy.
