Global investment in selected clean energy technology manufacturing by technology, 2020-2025

Sources

IEA analysis based on S&P Global (2025), WindEurope (2023), BNEF (2025), Global Wind Energy Council (2023), Wood Mackenzie (2025), InfoLink (2025), SPV Market Research (2025), Benchmark Mineral Intelligence (2024), EV Volumes (2025), IEA (2025b), Atlas EV Hub (2025), CEPII (2025), Sinoimex (2025), as well as announcements by manufacturers and personal communications.

Notes

2025 values are estimated. EVs = electric vehicles. Batteries and EVs includes anode and cathode active materials, battery cells and electric cars. Solar PV includes polysilicon, wafers, cells and modules. “Other” includes electrolysers, heat pumps and wind turbines, blades and nacelles.