World Economic Forum: 2025 Shows Fastest Progress on Energy Transition Since Pre-COVID
The World Economic Forum’s 2025 Energy Transition Index reveals that global progress towards clean energy has accelerated at its fastest pace since before the COVID-19 pandemic. A new survey by Greenpeace and Oxfam finds that 8 out of 10 people globally support a rapid transition away from fossil fuels, highlighting strong public backing for renewable energy expansion.[1]
U.S. Solar and Energy Storage Set for Major Growth in 2025
The U.S. is projected to add 63 gigawatts (GW) of new utility-scale electric-generating capacity in 2025, with solar power and energy storage leading the growth. Texas, the MISO region, and PJM Interconnection are expected to see the largest increases, driven by falling solar costs, government incentives, and rising demand for clean electricity.[6]
EU Solar Energy Booms: 70 GW in New Capacity Expected in 2025
The European Union is set to add 70 GW of new solar capacity in 2025, continuing a rapid expansion that has already seen nearly 150 GW installed between 2022 and 2024. Solar now produces 10% of Europe’s electricity, with significant contributions to jobs, energy security, and progress toward the EU’s climate neutrality goals.[8]
Senate Moves to Scale Back U.S. Clean Energy Tax Credits
The U.S. Senate is considering proposals to reduce clean energy tax credits established under the Inflation Reduction Act. These changes could slow renewable energy development by limiting financial incentives that have been crucial to recent growth in the sector.[3]
Sunnova Files for Bankruptcy Amid Residential Solar Industry Challenges
Sunnova Energy, a major U.S. residential solar provider, has filed for Chapter 11 bankruptcy following mounting debt, declining demand, and recent subsidy reductions in key markets like California. The company plans to sell assets and cut more than half its workforce while continuing operations during restructuring, reflecting broader financial pressures in the home solar sector.[5]
Renewables to Overtake Coal in Global Power Generation in 2025
The International Energy Agency reports that renewables-based electricity generation is set to surpass coal-fired generation worldwide in 2025, marking a major milestone in the global transition to clean energy. Wind and solar are expected to individually exceed nuclear power generation in 2026, further solidifying the dominance of renewables.[7]