Clean tech adoption strengthens energy resilience, S&P Global says
SPGI•SPGI•SPGI•SPGI•A new S&P Global report says clean technology can strengthen energy resilience while creating strategic dependencies on China’s supply chains. It projects electric vehicles will displace 1.9 million barrels per day of oil demand in 2026 and says European clean technology investment that year is expected to more than double its 2021 level.
S&P Global’s new report finds clean technology can strengthen energy resilience but creates strategic dependencies on China’s dominant supply chains. It says higher oil-import dependence is associated with an additional 0.25 percentage-point GDP loss two years after an oil supply shock. Globally, electric vehicles are projected to displace 1.9 million barrels per day of oil demand in 2026, nearly 2% of global demand.
EU non-hydro renewable generation has risen nearly 340 terawatt-hours since 2021, exceeding the increase from 2016 to 2021 by 70%. European clean technology investment in 2026 is expected to more than double its 2021 level.
