The IEA Clean Energy Market Monitor Summary – March 2024 [Video]

The International Energy Agency highlighted a record-breaking year for clean energy in 2023, with solar PV and wind capacity increasing by 85% and 60% respectively.
This growth was predominantly in advanced economies and China, which together contributed to 90% of the expansion in wind and solar sectors. Electric vehicle (EV) sales surged by 35%, hitting 14 million and accounting for a fifth of global car sales, with China leading in adoption. Despite these advances, heat pump sales slightly declined due to economic factors.
Since 2019, clean energy has doubled the growth rate of fossil fuels, leading to a significant reduction in fossil fuel demand and preventing around 2.2 billion tonnes of CO2 emissions annually.
The ongoing expansion of clean energy technologies, including heat pumps and EVs, is expected to further reduce fossil fuel demand.
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clean energy market
renewable energy market 2024
energy market 2024
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