In 2023, an estimated US$2.8 trillion was invested globally in energy, with more than 60% invested in clean energy technology, such as renewables, EVs, and battery storage.Part of this has been in response to the policy of the United States that is helping spur private-sector investment. For example, in the year after the CHIPS Act was signed into law, the private sector announced US$166 billion in investments in semiconductor plants,and in the year since the IRA was signed into law, the private sector announced approximately US$88 billion in clean energy manufacturing.
And while total US manufacturing output remained mostly flat quarter-on-quarter in Q2 2023, output in motor vehicles and semiconductor manufacturing (sectors impacted by the IRA, IIJA, and CHIPS) increased 11.3% and 6.7%, respectively.
From:Deloitte
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