The @IEA's Energy Technology Perspectives 2023 is out!
It shows we're entering a new industrial age – the age of clean energy technology manufacturing
This will create new markets worth hundreds of billions of dollars & millions of jobs this decade ⬇️ iea.li/3XmgzHx
Investment in clean technology manufacturing – for solar, batteries, heat pumps & more – is rising rapidly
Today's announced projects, if built, would account for two-thirds of the investment in clean technology manufacturing in a pathway to #NetZero ➡️ iea.li/3Xr3M6A
The new global energy economy brings new opportunities – but also new risks.
Today’s clean energy supply chains are geographically concentrated, in particular for technology manufacturing. Concentration is a risk for any supply chain, highlighting the need for diversification.
If Russia stops all pipeline supplies, Chinese LNG imports rebound & Europe has typical winter temperatures, there is a risk of gas shortages in 2023
Actions already taken in the EU mean the potential gap is half what it would've been but more are needed: iea.li/3UJ37Mc
Our report sets out practical measures across 5 key areas to deliver extra gas savings quickly:
➡️ Boost energy efficiency
➡️ Speed up deployment of renewables
➡️ Electrify heat
➡️ Help consumers make smart choices
➡️ Capture gas that’s wasted through flaring & methane leaks
🚨 Our new report on the Future of Heat Pumps is out!
A key tool for cutting energy bills, fuel imports & emissions – heat pumps are showing unprecedented momentum amid the energy crisis, especially in Europe
Governments need to accelerate this further: iea.li/3VFJQw7
Today, only 10% of heating in buildings worldwide relies on heat pumps
This needs to grow rapidly to meet countries’ national energy security & climate targets – sales would have to triple by 2030
Our special report on Coal in Net Zero Transitions is out!
Global coal emissions are the key challenge for reaching climate targets. If nothing is done, emissions from existing coal plants in power & industry alone would tip the world over the 1.5C limit: iea.li/3hFOX0s
Global coal demand, and its CO2 emissions, have been stuck at a high level for a decade
With over 95% of global coal consumption occurring in countries that have pledged to reach net zero, governments need to move quickly to drive emissions down
A short-term jump in energy export earnings can’t offset a permanent loss of trust & markets. Moscow is doing itself long-term harm by alienating the EU, its biggest customer. Its oil & gas sector will also struggle under sanctions.
Myth 2: Today’s crisis is a clean energy crisis
In fact, more low-carbon energy would have helped ease the crisis, & a faster transition is the best way out of it
When people blame clean energy, they are moving the spotlight away from the real culprits: the gas crunch & Russia