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BNEF: global investment in energy transition hit $500B in 2020; $139B on EVs and infrastructure

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Other areas of energy transition investment also showed strength. Domestic installation of energy-efficient heat pumps came to $50.8 billion, up 12%, while investment in stationary energy storage technologies such as batteries was $3.6 Commercial EV investment declined from $12 billion in 2016 to $4 billion in 2020.

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China’s battery supply chain tops BNEF ranking for third consecutive time; Canada close 2nd, US drops to 3rd

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Strong battery demand for stationary storage and rapidly accelerating passenger vehicle sales (rising from 5% in 2022 to 34% by 2027) ensure that it places high on the leaderboard. —Yayoi Sekine, head of energy storage at BNEF. US cell production capacity surpassed Japan in 2014 and South Korea in 2016.

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