Clean energy fuels 10% of global GDP growth in 2023 – IEA

MOSCOW, April 18 (Sputnik) – Clean energy added almost $320 billion to the global economy in 2023, accounting for 10% of world GDP growth, the International Energy Agency (IEA) said on Thursday.

“Our new country-by-country and sector-by-sector analysis finds that in 2023 clean energy added around USD 320 billion to the world economy. This represented 10% of global GDP growth – equivalent to more than the value added by the global aerospace industry in 2023, or to adding an economy the size of the Czech Republic to global output,” the IEA said in a statement.

The analysis looked at the four largest economies, the United States, China, India and the European Union, which together account for two-thirds of global GDP, the energy agency said.

In these regions, the clean energy sector also accounted for a significant share of overall economic investment growth in 2023. In the case of China, it drove 50% of total investment growth in 2023, and 20% in the US, the statement added.

The IEA’s analysis covered three categories of clean energy activities, such as technology manufacturing, power capacity deployment and clean equipment sales.