Booming investment in solar and battery manufacturing is rapidly becoming a powerful global economic driver, according to a new report from the International Energy Agency (IEA).
In a first-of-its-kind analysis from the IEA, “Advancing Clean Technology Manufacturing” finds that global investment in the manufacturing of five key clean energy technologies – solar, wind, batteries, electrolyzers, and heat pumps – rose to $200 billion in 2023, an increase of more than 70% from 2022 that accounted for around 4% of global GDP growth and nearly 10% of global investment growth.
Spending on solar PV manufacturing more than doubled last year, while investment in battery manufacturing rose by around 60%.
As a result, solar PV module manufacturing capacity today is already in line with what is needed in 2030 based on the IEA’s net zero emissions scenario. For battery cells, if announced projects are included, manufacturing capacity is 90% of the way toward meeting net zero demand at the end of this decade.
The report finds that many projects in the pipeline will be operational soon. Around 40% of investments in clean energy manufacturing in 2023 were in facilities that are due to come online in 2024. For batteries, this share rises to 70%.
Clean energy manufacturing is still dominated by China, which is currently home to more than 80% of global solar PV module manufacturing capacity, followed by the US and India with 5%, and Europe with just 1%. That’s not expected to change this decade.
However, the report finds that the manufacturing of battery cells could become less geographically concentrated in China by 2030. If all announced projects are realized, Europe and the US could each reach around 15% of global installed capacity by 2030.
New data and analysis based on plant-level assessments of more than 750 factories indicate that China remains the lowest-cost producer of all clean energy technologies. Battery, wind, and solar PV manufacturing facilities are typically 70-130% more expensive to build in the US and Europe than in China.
However, the vast majority of total production costs for these technologies (70-98%) is estimated to come from operational costs that include energy, labor, and materials. The IEA says the implication is that current production cost gaps can be influenced by policy.
“While greater investment is still needed for some technologies – and clean energy manufacturing could be spread more widely around the globe – the direction of travel is clear. Policy makers have a huge opportunity to design industrial strategies with clean energy transitions at their core,” said IEA executive director Fatih Birol.
The report, produced in response to a request from G7 Leaders in 2023, is designed to provide guidance for policy makers as they prepare industrial strategies with a strong focus on clean energy manufacturing.
To limit power outages and make your home more resilient, consider going solar with a battery storage system. In order to find a trusted, reliable solar installer near you that offers competitive pricing, check outEnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and you share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get startedhere. – ad*
FTC: We use income earning auto affiliate links.More.
Tesla had to roll back its ‘Full Self-Driving’ free trial in China after a policy change brought more scrutiny to software updates for advanced driver assist systems.
The automaker made the system available through a free trial this month to try to encourage people to buy the system through an over-the-air software update.
However, Tesla halted the program this week.
Advertisement – scroll for more content
Grace Tao, Tesla’s Vice-President in charge of the Chinese market, announced on Weibo:
“Dear car owners, the application of Tesla’s intelligent assisted driving function in China has received widespread attention. Thank you for your support and feedback.
According to the requirements of the latest ‘Notice on Further Strengthening the Management of Access, Recall and Online Software Upgrade of Intelligent Connected Vehicle Products’, the team is completing the approval of the 3.0 and 4.0 hardware corresponding to the intelligent assisted driving software.
All parties are actively promoting the relevant process, and once it is ready, it will be pushed to everyone as soon as possible.
We are looking forward to it, so please be patient and thank you again for your understanding and trust.”
She is referencing the newly introduced ‘Notice on Further Strengthening the Management of Access, Recall and Online Software Upgrade of Intelligent Connected Vehicle Products’, a new set of rules to more closely regulate software updates in connected vehicles, especially regarding advanced driver assist (ADAS) features, like Tesla’s FSD.
The new set of rules includes a requirement that automakers “submit detailed technical information” before deploying a software update to their fleet over the air.
Based on the Tesla executive’s comment, it sounds like Tesla is going through this requirement now.
The new rules also strengthen recalls related to software updates and ADAS features and require automakers to report crashes involving those features.
Grace Tao mentioned Tesla is working on both HW3 and HW4 approval. In China, Tesla had only launched the new ADAS features based on its Full Self-Driving package on HW4 vehicles, which are equipped with a more powerful computer and better camera.
In North America, Tesla FSD is also available on HW3 vehicles, albeit with different, less-performing software.
Global energy demand spiked in 2024, driven largely by surging electricity use, according to a new report released today by the International Energy Agency (IEA). Electricity consumption jumped by nearly 1,100 terawatt-hours – a hefty 4.3% increase – nearly twice the annual average growth of the past decade.
This dramatic rise was largely fueled by the electrification of transportation, record-breaking global temperatures that ramped up cooling needs, coupled with increased industrial activity, and growing energy demand from data centers and AI applications.
Renewables were the real stars in meeting this rising energy need, according to the IEA’s latest edition of the Global Energy Review. The world installed roughly 700 gigawatts (GW) of new renewable power capacity last year, marking the 22nd consecutive record-setting year. Renewables, together with nuclear power – which saw its fifth-highest growth in three decades – accounted for a massive 80% of the global electricity supply increase. Together, renewables and nuclear reached a milestone, covering 40% of total global electricity generation for the first time.
IEA executive director Fatih Birol highlighted the key takeaway: “What is certain is that electricity use is growing rapidly, pulling overall energy demand along with it to such an extent that it is enough to reverse years of declining energy consumption in advanced economies.” He also emphasized the positive shift: “The strong expansion of solar, wind, nuclear power, and EVs is increasingly loosening the links between economic growth and emissions.”
Advertisement – scroll for more content
Among fossil fuels, natural gas saw the largest increase, up by 115 billion cubic meters (bcm), or 2.7%, driven primarily by rising electricity demand, compared with an average of around 75 bcm annually over the past decade.
EV sales surged by over 25% in 2024, now making up 1 in every 5 cars sold globally, and this had a notable impact on oil demand, which grew modestly, at just 0.8%. Oil notably fell below 30% of total energy demand for the first time ever, 50 years after it peaked at 46%.
Coal, despite increasing by 1%, slowed its growth significantly compared to previous years, with intense heatwaves in China and India accounting for over 90% of this rise.
Meanwhile, emissions data painted an encouraging picture: CO2 emissions in advanced economies fell by 1.1% to to 10.9 billion tonnes in 2024 – a level not seen in 50 years, even as their economies have tripled in size. Record temperatures contributed significantly to the annual 0.8% rise in global CO2 emissions to 37.8 billion tonnes. But the rapid adoption of clean energy technologies since 2019 is now preventing 2.6 billion tonnes of CO2 annually – the equivalent of 7% of global emissions.
Dr. Birol summed it up: “From slowing global oil demand growth and rising deployment of electric cars to the rapidly expanding role of electricity and the increasing decoupling of emissions from economic growth, many of the key trends the IEA has identified ahead of the curve are showing up clearly in the data for 2024.”
Now is a great time to begin your solar journey so your system is installed in time for those sunny spring days. If you want to make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20 to 30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here. –trusted affiliate partner
FTC: We use income earning auto affiliate links.More.
We already know that BMW closed off 2024 with a banner year for its electrified “i” models – but it took a while for the larger picture to become clear. Not only is BMW succeeding with EVs, the Bavarians are outselling their two closest competitors combined. (!)
First things first – we need to look at the numbers: BMW sold delivered 368,523 units to customers globally, representing a nearly 12% growth in EV deliveries for the brand year-over-year (YoY). Perhaps more EVs made up fully 16.7% of the brand’s 2,200,217 unit total for 2024.
Over at Audi it’s more of the same, with the four rings brand moving 164,480 EVs in 2024 (7.8% less than the 178,429 units they managed to move in 2023).
Advertisement – scroll for more content
Neither of the Bavarians’ German rivals’ EVs cracked 10% of their companies’ overall sales, either – which begs the question: what gives? Are BMW’s electric vehicles really that much better than Audi’s and Mercedes’, or is something else driving the Ultimate Driving Machines’ successful growth in the electric vehicle segment?
The reason BMW is consistently pulling ahead comes down to education. “First-time EV buyers are receiving minimal education or training,” explains Brent Gruber, executive director of the EV practice at J.D. Power. “Dealer and manufacturer representatives play the crucial role of front-line educators, but when it comes to EVs, the specific education needed to shorten the learning curve just isn’t happening often enough. The shortfall in buyer education is something we’re seeing with all brands.”
When an average car buyer is told, “this car can add 200 miles of range in 20 minutes” by an enthusiastic salesperson, they’ll expect that to be the case whenever they connect to a public charging station. And why wouldn’t they? If their entire fueling experience has been with gasoline, it’s highly unlikely that they’ve every thought about kW or kWh or amps or volts or what any of those things have to do with one another.
BMW dealers fully explain these things as part of their standard delivery practice through the company’s Genius program. Cunningly cribbed from Apple’s Genius Bar playbook, BMW (and, by extension, Mini) offers the best EV customer training in the car business. “With that in mind,” I wrote, when BMW’s second consecutive J.D. Power win came to light, “it’s hard to imagine this going down any other way.”
This advice applies everywhere
Meme credited to RandysRansom.com
I stand by that, but what do you think? Is this a question of customer service, are BMW’s new EVs really the best in the business, or is Audi’s “expensive Volkswagen” business model simply not viable in 2025? Scroll down to the comments and let us know what you think makes the electrified BMW’s the Ultimate Selling Machines.
On your way there, check out a few of these great deals on new BMW EVs:
Original content from Electrek; source links throughout.
FTC: We use income earning auto affiliate links.More.