Global Renewable Energy Shift Hits "Positive Tipping Point"

Renewable energy has surpassed a milestone, becoming the main driver of global electricity growth. Last year, 74% of new electricity generated worldwide came from wind, solar, and other green sources, according to the UN's Seizing the Moment of Opportunity report. Solar and wind power have become even cheaper, with solar power now 41% and wind power 53% cheaper than the lowest-cost fossil fuel. UN Secretary-General Antonio Guterres hailed the dawn of a new energy era, where cheap, clean, and abundant energy powers a world rich in economic opportunity.

Key Takeaways:

• 92.5% of new electricity capacity added to the global grid in 2024 came from renewables, according to the Seizing the Moment of Opportunity report.
• Sales of electric vehicles increased from 500,000 in 2015 to over 17 million in 2024.
• The three cheapest electricity sources globally last year were onshore wind, solar panels, and new hydropower, according to the International Renewable Energy Agency (IRENA).
• Renewable energy received $2 trillion in investment in 2024, outpacing the $1.2 trillion invested in fossil fuels.
• Fossil fuel consumption subsidies ($620bn in 2023) are nearly nine times higher than those for renewables ($70bn).
• Despite the growth in renewables, fossil fuel production is still increasing due to rising power demand from developing countries and the need for cooling in a warmer world.
• The UN warned that countries clinging to fossil fuels are sabotaging their economies and will become poorer, not richer.
• The Global South must be empowered to generate its own electricity without adding to unsustainable debt levels, according to climate scientist Adelle Thomas.
• Major technology firms are being called upon to power data centres with renewables by 2030 to avoid electricity consumption exceeding all of Japan's current national consumption.

Statistics:

• 74% of new electricity growth in 2024 came from wind, solar, and other green sources.
• 92.5% of new electricity capacity added to the grid in 2024 came from renewables.
• $2 trillion in investment was received by renewable energy in 2024.
• $1.2 trillion was invested in fossil fuels in 2024.
• Fossil fuel subsidies ($620bn in 2023) are nearly nine times higher than renewables subsidies ($70bn).
• Sales of electric vehicles increased from 500,000 in 2015 to over 17 million in 2024.

Sources:

• Seizing the Moment of Opportunity report
• International Renewable Energy Agency (IRENA)
• Al Jazeera (1 May 2025)
• Al Jazeera (8 April 2025)
• Al Jazeera (23 January 2025)
• The Associated Press news agency
• Natural Resources Defense Council