Clean Energy Investment to Surpass Oil and Gas in 2025
16 Jan 2025
2 Min Read
CW Team
For the first time in history, global investments in clean energy technologies are set to outpace spending in upstream oil and gas by 2025, according to the S&P Global Commodity Insights report, "Top Clean Energy Technology Trends of 2025: Transformative Changes Ahead." Cleantech energy supply spending is projected to reach $670 billion (approximately Rs 55.5 trillion), with solar photovoltaics (PV) commanding nearly 50% of the investments and contributing two-thirds of new installed megawatts.
The report forecasts the addition of 620 GW of solar and wind capacity globally by 2024鈥攅quivalent to the total power systems of India, Pakistan, and Bangladesh combined. Additionally, battery energy storage systems are expected to surpass pumped hydro in installed capacity by 2025, marking a significant milestone in energy storage advancements.
Artificial intelligence (AI) is increasingly enhancing renewable energy integration, with applications in forecasting generation and grid planning. By 2025, installations of long-duration energy storage systems are expected to double, and data centers are projected to procure 300 TWh of clean power annually by 2030.
Ammonia's role in low-carbon hydrogen production and the rise of carbon capture, utilization, and storage (CCUS) projects reflect the diversification of clean energy technologies. Supportive policies like the US Inflation Reduction Act and India鈥檚 production-linked incentive scheme are further strengthening global clean energy supply chains.
Global photovoltaic manufacturing is also undergoing transformation amid trade tensions between the US and China. With high tariffs on exports from Southeast Asia, India is ramping up PV manufacturing to target the US market, while Saudi Arabia is emerging as a manufacturing hub for Chinese PV and battery firms.
As the world shifts toward cleaner energy systems, these developments signify a crucial turning point in addressing climate change and achieving global energy sustainability.
For the first time in history, global investments in clean energy technologies are set to outpace spending in upstream oil and gas by 2025, according to the S&P Global Commodity Insights report, Top Clean Energy Technology Trends of 2025: Transformative Changes Ahead. Cleantech energy supply spending is projected to reach $670 billion (approximately Rs 55.5 trillion), with solar photovoltaics (PV) commanding nearly 50% of the investments and contributing two-thirds of new installed megawatts.
The report forecasts the addition of 620 GW of solar and wind capacity globally by 2024鈥攅quivalent to the total power systems of India, Pakistan, and Bangladesh combined. Additionally, battery energy storage systems are expected to surpass pumped hydro in installed capacity by 2025, marking a significant milestone in energy storage advancements.
Artificial intelligence (AI) is increasingly enhancing renewable energy integration, with applications in forecasting generation and grid planning. By 2025, installations of long-duration energy storage systems are expected to double, and data centers are projected to procure 300 TWh of clean power annually by 2030.
Ammonia's role in low-carbon hydrogen production and the rise of carbon capture, utilization, and storage (CCUS) projects reflect the diversification of clean energy technologies. Supportive policies like the US Inflation Reduction Act and India鈥檚 production-linked incentive scheme are further strengthening global clean energy supply chains.
Global photovoltaic manufacturing is also undergoing transformation amid trade tensions between the US and China. With high tariffs on exports from Southeast Asia, India is ramping up PV manufacturing to target the US market, while Saudi Arabia is emerging as a manufacturing hub for Chinese PV and battery firms.
As the world shifts toward cleaner energy systems, these developments signify a crucial turning point in addressing climate change and achieving global energy sustainability.
Next Story
MoHUA Plans New Role for Smart City SPVs
In a significant policy move, the Ministry of Housing and Urban Affairs (MoHUA) has issued an advisory encouraging the continued use and repurposing of Special Purpose Vehicles (SPVs) formed under the Smart Cities Mission (SCM). This marks a step toward sustaining urban transformation by leveraging institutional capabilities and infrastructure developed over the past decade.Initiated in 2015, the Smart Cities Mission introduced a new era of urban planning in India, with each of the 100 selected cities forming SPVs under the Companies Act, 2013. These entities, jointly owned by state government..
Next Story
ADB Approves $110 Million Loan to Boost Skills in Gujarat
The Asian Development Bank (ADB) has approved a USD 109.97 million (Rs 9.27 billion) results-based loan to support Gujarat鈥檚 efforts to become a global industrial hub by developing a future-ready, skilled workforce.The funding will back the Gujarat skills development programme, led by the Department of Labour, Skill Development and Employment in collaboration with Kaushalya: The Skill University (KSU). The initiative aims to equip the workforce with advanced, industry-aligned skills to meet rising employment demand in high-growth sectors.According to ADB, the programme seeks to strengthen in..
Next Story
SDAL Tests Rudrastra UAV and Bhargavastra Defence System
Solar Defence and Aerospace Limited (SDAL) has successfully completed a key flight test of its indigenous Hybrid VTOL UAV Rudrastra at the Pokharan Firing Range, aligning with Indian Army performance benchmarks for mission adaptability, high endurance, precision engagement, and vertical take-off and landing (VTOL) capability.The trial marks a notable achievement in India鈥檚 Aatmanirbhar Bharat initiative, underscoring advancements in home-grown military technology. The Rudrastra UAV demonstrated a mission radius exceeding 50 km with uninterrupted video relay, a total operational range of over..
