Investment in solar PV manufacturing more than doubled to USD 80 billion in 2023, and investment in battery manufacturing increased 60% to USD 110 billion.
Investment in solar PV manufacturing more than doubled to USD 80 billion in 2023, and investment in battery manufacturing increased 60% to USD 110 billion.
“Battery manufacturing also had a record year in 2023. Production totalled more than 800 gigawatt-hours (GWh), rising 45% from 2022. Capacity additions also surged, with almost 780 GWh of cell manufacturing capacity added – around a quarter more than in 2022. This raised total installed capacity to around 2.5 terawatt-hours (TWh), or almost three times current demand. Globally, battery manufacturing capacity could exceed 9 TWh by 2030 if all announcements are realised. Battery manufacturing deployment needs in 2030 under the NZE Scenario are within reach: more than 90% could be met by announced expansions that have reached final investment decisions.” – from the IEA report pdf.
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“Battery manufacturing also had a record year in 2023. Production totalled more than 800 gigawatt-hours (GWh), rising 45% from 2022. Capacity additions also surged, with almost 780 GWh of cell manufacturing capacity added – around a quarter more than in 2022. This raised total installed capacity to around 2.5 terawatt-hours (TWh), or almost three times current demand. Globally, battery manufacturing capacity could exceed 9 TWh by 2030 if all announcements are realised. Battery manufacturing deployment needs in 2030 under the NZE Scenario are within reach: more than 90% could be met by announced expansions that have reached final investment decisions.” – from the IEA report pdf.