In the 2°C scenario, the IEA (2015, p. 64) estimates an average annual investment of more than $1 trillion per year between 2016 and 2050 over and above the baseline scenario. The changes will be created primarily by national regulations and initiatives aimed at reducing GHG emissions and adapting to climate change, which will send the price signals to investors and producers that will drive the changes. The first category involves massive increases in consumption of goods that are heavily traded globally. Global exports in 2014 of products under Harmonized System (HS) code 854140 (which is overwhelmingly made up of solar panels) stood at $54.5 billion, up from $7.2 billion in 2000.3 The second category also involves goods that can potentially be internationally traded: manufacturing equipment for modules, wafers, transformers, etc.