Solar and Wind Energy Lead the Way: The Future of Global Power

The global shift to renewable energy is accelerating, with solar and wind power leading the charge. In 2024, the world added new solar capacity 100 times faster than nuclear and new wind capacity 25 times faster, according to data from the World Nuclear Association, the International Energy Agency, and Ember. Here’s what this means for the future of energy:

Renewables Outpacing Nuclear and Fossil Fuels

• Solar growth: Solar electricity generation has grown tenfold every decade and is set to match nuclear power output by 2024. Around 700 GW of new solar and wind capacity was deployed globally last year, compared to just 5.5 GW of net new nuclear capacity.
• Cheaper energy: Solar and wind are now more affordable than nuclear power, with faster construction times and declining costs. Nuclear plants take 6–8 years to build and face rising costs, while solar and wind can be deployed rapidly at scale.
• Fossil fuel stagnation: Electricity from coal and gas has plateaued since 2021, with renewables expected to surpass these sources by 2032.

China Leading, the U.S. Lagging?

More than half of the new solar and wind capacity in 2024 was deployed in China, which is embracing renewable energy at an unprecedented rate. If other nations, like the U.S., slow their renewable adoption, they risk economic setbacks as clean energy becomes the global standard.

The Long-Term Benefits of Solar and Wind

1. Meeting demand: Electrification of transport, heating, and industry will double or triple electricity demand in developed countries, with even higher growth in developing nations. Solar and wind are scaling rapidly to meet these needs.
2. Energy storage solved: Advances in battery technology and pumped hydro ensure that solar and wind can deliver consistent energy, even during periods of low sunlight or wind.
3. Market impact: Coal and gas plants are being outpriced on sunny and windy days, forcing them out of the market and paving the way for even more renewables.

A Sustainable Future

Solar and wind are outpacing every other energy source combined. By 2050, they will likely have achieved global decarbonization, locking in cheap, clean energy for the future. While other technologies like nuclear and carbon capture may hold promise, they would need unprecedented growth to catch up with the progress already made by renewables.

Read the full article here: Fastest energy change in history continues – pv magazine Australia

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