Need a bit of sunshine in your morning? A fascinating new report by the International Energy Agency (IEA) has forecasted a very bright future for clean energy.

The report, entitled Energy Technology Perspectives 2024, offers an in-depth look at energy policies across the world, as countries jockey for leading positions within the burgeoning clean energy market.

The IEA’s research shows that investment in solar PV, wind turbines, electric cars, batteries, electrolysers and heat pumps will triple by the year 2035, from US$700bn to over US$2tn. This staggering growth is set to challenge the economic scales of the global crude oil market of recent years.

Fatih Birol, IEA Executive Director, underlines the importance of this shift, saying, “The market for clean technologies is set to multiply in value in the coming decade, increasingly catching up with the markets for fossil fuels.

“As countries seek to define their role in the new energy economy, three vital policy areas—energy, industry and trade—are becoming more and more interlinked.”