The global market for key mass-manufactured clean energy technology will be worth about $650 billion a year by 2030, more than three times the current level, if countries worldwide fully enact energy and climate pledges, according to the International Energy Agency.
The related clean energy manufacturing jobs will more than double to 14 million by the end of this decade from the current six million, the agency said in its Energy Technology Perspectives 2023 report on Thursday.
“We’re talking about new clean energy technology markets worth hundreds of billions of dollars as well as millions of new jobs,” said the agency's executive director, Fatih Birol.
“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.”
However, the high concentration of resources and technology in certain countries poses risks to global supply chains, the report said.
Over the past two years, lockdowns in China, the world’s second-largest economy and top manufacturer of solar modules, have resulted in major supply chain disruptions around the world.
The Asian country is forecast to invest $90 billion in its solar photovoltaic supply chain between 2022 and 2027, more than triple the investment expected from the rest of the world combined, the agency said in a report last year.
“The world is already seeing the risks of tight supply chains, which have pushed up clean energy technology prices in recent years, making countries’ clean energy transitions more difficult and costly,” said the agency.
Electric vehicles — seen as crucial to global net-zero efforts — rely on a range of critical minerals, which are sourced from a handful of countries such as the Democratic Republic of Congo, Australia and China.
“The world would benefit from more diversified clean technology supply chains,” said Mr Birol.
“As we have seen with Europe’s reliance on Russian gas, when you depend too much on one company, one country or one trade route — you risk paying a heavy price if there is disruption.”
Major economies are acting to combine their climate, energy security and industrial policies into broader strategies, the report said.
The US Inflation Reduction Act offers a series of tax incentives on wind, solar, hydropower and other renewables as well as a push towards electric vehicle ownership.
In May, the EU launched the REPowerEU plan, which comprises measures to tackle the energy crisis caused by Russia's invasion of Ukraine.
With the help of the programme, the bloc plans to reduce demand for Russian gas by two thirds before the end of the year, with a mobilisation of up to €300 billion ($323 billion) in investments.
India, the world’s third-largest crude oil importer, aims to produce 500 gigawatts of non-fossil fuel capacity by 2030 to meet half of its energy demand through renewables.
Only 25 per cent of the announced manufacturing projects globally for solar PV are under construction or beginning construction imminently, the agency said.
The number is about 35 per cent for EV batteries and less than 10 per cent for electrolysers, a critical technology used for the production of low-emission hydrogen.
Slow loris biog
From: Lonely Loris is a Sunda slow loris, one of nine species of the animal native to Indonesia, Malaysia, Thailand and Singapore
Status: Critically endangered, and listed as vulnerable on the International Union for Conservation of Nature red list due to growing demand in the global exotic pet trade. It is one of the most popular primate species found at Indonesian pet markets
Likes: Sleeping, which they do for up to 18 hours a day. When they are awake, they like to eat fruit, insects, small birds and reptiles and some types of vegetation
Dislikes: Sunlight. Being a nocturnal animal, the slow loris wakes around sunset and is active throughout the night
Superpowers: His dangerous elbows. The slow loris’s doe eyes may make it look cute, but it is also deadly. The only known venomous primate, it hisses and clasps its paws and can produce a venom from its elbow that can cause anaphylactic shock and even death in humans
David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
DIVINE%20INTERVENTOIN
%3Cp%3EStarring%3A%20Elia%20Suleiman%2C%20Manal%20Khader%2C%20Amer%20Daher%3C%2Fp%3E%0A%3Cp%3EDirector%3A%20Elia%20Suleiman%3C%2Fp%3E%0A%3Cp%3ERating%3A%204.5%2F5%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
Understand What Black Is
The Last Poets
(Studio Rockers)
No_One Ever Really Dies
N*E*R*D
(I Am Other/Columbia)
Five expert hiking tips
Always check the weather forecast before setting off
Make sure you have plenty of water
Set off early to avoid sudden weather changes in the afternoon
Wear appropriate clothing and footwear
Take your litter home with you
A cryptocurrency primer for beginners
Cryptocurrency Investing for Dummies – by Kiana Danial
There are several primers for investing in cryptocurrencies available online, including e-books written by people whose credentials fall apart on the second page of your preferred search engine.
Ms Danial is a finance coach and former currency analyst who writes for Nasdaq. Her broad-strokes primer (2019) breaks down investing in cryptocurrency into baby steps, while explaining the terms and technologies involved.
Although cryptocurrencies are a fast evolving world, this book offers a good insight into the game as well as providing some basic tips, strategies and warning signs.
Begin your cryptocurrency journey here.
Available at Magrudy’s , Dh104
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Revibe%20%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Hamza%20Iraqui%20and%20Abdessamad%20Ben%20Zakour%20%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Refurbished%20electronics%20%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2410m%20%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%2C%20Resonance%20and%20various%20others%0D%3C%2Fp%3E%0A
Jeff Buckley: From Hallelujah To The Last Goodbye
By Dave Lory with Jim Irvin
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Where to buy
Limited-edition art prints of The Sofa Series: Sultani can be acquired from Reem El Mutwalli at www.reemelmutwalli.com
Need to know
The flights: Flydubai flies from Dubai to Kilimanjaro airport via Dar es Salaam from Dh1,619 return including taxes. The trip takes 8 hours.
The trek: Make sure that whatever tour company you select to climb Kilimanjaro, that it is a reputable one. The way to climb successfully would be with experienced guides and porters, from a company committed to quality, safety and an ethical approach to the mountain and its staff. Sonia Nazareth booked a VIP package through Safari Africa. The tour works out to $4,775 (Dh17,538) per person, based on a 4-person booking scheme, for 9 nights on the mountain (including one night before and after the trek at Arusha). The price includes all meals, a head guide, an assistant guide for every 2 trekkers, porters to carry the luggage, a cook and kitchen staff, a dining and mess tent, a sleeping tent set up for 2 persons, a chemical toilet and park entrance fees. The tiny ration of heated water provided for our bath in our makeshift private bathroom stall was the greatest luxury. A standard package, also based on a 4-person booking, works out to $3,050 (Dh11,202) per person.
When to go: You can climb Kili at any time of year, but the best months to ascend are January-February and September-October. Also good are July and August, if you’re tolerant of the colder weather that winter brings.
Do not underestimate the importance of kit. Even if you’re travelling at a relatively pleasant time, be geared up for the cold and the rain.
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
