Clean Energy Investment to Surpass Oil and Gas in 2025

16 Jan 2025 CW Team

The report forecasts the addition of 620 GW of solar and wind capacity globally by 2024—equivalent 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’s 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—equivalent 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’s 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.

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