Renewable Energy Surpasses Fossil Fuels in Key Markets
In 2024, renewable energy generated more electricity than coal in the United States for the first time. Solar and wind capacity additions outpaced all other sources combined. Battery storage costs dropped below 100 dollars per kilowatt-hour, making grid-scale storage economically viable. China installed more solar panels in 2024 than the entire world did in 2022. Despite this progress, global emissions continue to rise, driven by developing nations increasing energy demand. The energy transition is accelerating but not yet fast enough to meet climate targets.