This report by the Clean Energy Technology Observatory (CETO) provides an updated strategic analysis of the EU clean energy technology sector. The EU's renewable share in gross final energy consumption rose to 24.5% in 2023, and to 44.7% of gross electricity consumption. The electrification rate however has remained almost unchanged at 26% over the decade to 2023, indicating slow progress on decarbonisation of transport and heating sectors. The EU renewable energy industry saw growth in turnover and gross value added in 2023, outperforming the overall economy. However, the production value of clean energy technologies declined in some areas, such as bioenergy, PV, and hydrogen electrolyser production. EU public investment in energy research and innovation has increased, but it remains lower as a share of GDP compared to other major economies. Employment in the renewable energy sector reached 1.7 million in 2022, growing at a faster rate than the economy as a whole. The clean energy sector however faces challenges in manufacturing. A new sustainability assessment framework has been applied for clean energy technologies, highlighting the need for a harmonized basis for comparing results. The report also underscores the general need to improve data quality and timeliness to better inform policy makers and investors.