Clean energy technology is becoming a major new area for investment and employment – and a dynamic arena for international collaboration and competition.Īt the moment, however, every data point showing the speed of change in energy can be countered by another showing the stubbornness of the status quo. In most markets, solar PV or wind now represents the cheapest available source of new electricity generation. Its emergence is the product of a virtuous circle of policy action and technology innovation, and its momentum is now sustained by lower costs. The new energy economy will be more electrified, efficient, interconnected and clean. In 2020, even while economies bent under the weight of Covid-19 lockdowns, renewable sources of energy such as wind and solar PV continued to grow rapidly, and electric vehicles set new sales records.
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