Clean energy is no longer the future—it’s the present. Solar and wind power are growing faster and cheaper than ever, reshaping the world’s electricity landscape and leaving fossil fuels scrambling to catch up, according to two new United Nations reports released Tuesday.
Renewables Now Dominate Global Power Expansion
The numbers speak loud and clear. A staggering 92.5% of all new electricity capacity added to the global grid in the past year came from renewable sources. That’s not just momentum—that’s a seismic shift.
More than 74% of the growth in electricity generation worldwide came from wind, solar, and other green technologies, the U.N. report “Seizing the Moment of Opportunity” said. The agency pointed to surging investment and adoption rates that show clean energy is no longer the underdog—it’s the leader.
And electric vehicles? Back in 2015, just half a million were sold. This year, that number’s skyrocketed past 17 million. It’s like watching a niche movement suddenly go mainstream.
Solar and Wind Now Cheaper Than Any Fossil Fuel
Forget what you thought you knew about affordability.
The International Renewable Energy Agency (IRENA), in a separate report released the same day, found that the three cheapest sources of new electricity in 2024 were:
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Onshore wind
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Solar photovoltaic panels
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New hydropower projects
Globally, solar power is now 41% cheaper than the cheapest fossil fuel option. Wind energy? It’s down 53% compared to fossil fuels. That’s a financial game-changer. And it’s a nail in the coffin for coal and gas in many regions.
“There are no price spikes for sunlight. No embargoes on wind,” U.N. Secretary-General António Guterres quipped during a fiery press conference.
Investment Surge Shows Market Backing the Shift
For all the talk about climate targets and emissions, Guterres made it simple: “Just follow the money.”
In 2023, $2 trillion was poured into green energy globally. That’s $800 billion more than fossil fuels attracted. The investment trend isn’t subtle—it’s decisive. Clean energy is where the growth is, and where investors see returns.
The shift is especially visible in places like China, where green energy now accounts for 10% of the national economy. India and Brazil are ramping up too.
But even as some countries sprint ahead, others are getting left behind.
Global South Faces Roadblocks Despite Clean Potential
The reports didn’t sugarcoat one sobering fact: Africa added less than 2% of all new renewable power capacity last year, even though it has huge energy needs and natural solar advantages.
The problem? Money.
Bahamian climate expert Adelle Thomas pointed to the high cost of capital and lack of financial tools tailored to lower-income nations. “The Global South must be empowered to generate its own electricity without adding to already unsustainable levels of debt,” she said.
She wasn’t involved in the U.N. reports, but her message echoed their conclusions—this isn’t a technology issue. It’s a finance and equity issue.
Here’s the paradox: clean energy is now cheaper than dirty energy. Yet the poorest countries still struggle to access it.
Even with Fossil Subsidies, Renewables Are Winning
One of the most jaw-dropping stats from the reports? Fossil fuels received nine times more consumption subsidies than renewables last year.
To be exact:
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$620 billion in fossil fuel subsidies
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Just $70 billion for renewables
Despite that imbalance, renewables are still pulling ahead. That should tell you just how fast things are moving. It also shows how much faster they could move if subsidies were redirected.
And it raises an uncomfortable question: Why are governments still bankrolling the very fuels that are driving the climate crisis?
AI and Data Centers Could Disrupt Energy Progress
There’s another twist in the story. As clean energy rises, so does global power demand—and not just from population growth.
Artificial Intelligence is playing an unexpected role here. The U.N. reports highlighted that:
“A typical AI data center eats up as much electricity as 100,000 homes.”
And it’s just getting started. By 2030, these data centers could require as much energy as all of Japan consumes today. That’s a massive strain on grids, especially if the energy isn’t clean.
Guterres called on big tech to do more, urging companies to power their data centers entirely with renewables by 2030. It’s ambitious, but probably necessary if AI’s growth isn’t going to derail climate progress.
U.S. Policy Reversal Raises Concerns
For years, the U.S. was a key driver of renewable energy growth. From 2018 to 2023, solar and wind expanded at a healthy 12.3% annually.
But that momentum may be slipping.
Since President Donald Trump returned to office earlier this year, his administration has rolled back several green energy programs and withdrawn from the Paris climate agreement. The policy pivot is already causing uncertainty in the renewable sector.
Guterres didn’t mention the U.S. by name but issued a clear warning: “Countries that cling to fossil fuels are not protecting their economies, they’re sabotaging them. Driving up costs. Undermining competitiveness. Locking in stranded assets.”
There’s growing concern that if the U.S. slows its green transition, it could hurt global efforts—and itself.
