EU Achieves Milestone as Solar Becomes Largest Power Source
For the first time, solar energy led the European Union’s power mix, supplying 22% of the region’s electricity in June—outpacing both gas and coal combined. This marks a significant achievement for renewable energy integration and highlights solar’s growing dominance in the EU grid.[3]
Record Growth in US Utility-Scale Solar, Wind, and Storage
In the first nine months of 2024, utility-scale solar and wind accounted for nearly 90% of all new US power generation capacity, with record increases in battery storage as well. This surge is driven by strong demand from cleantech manufacturing and data centers, though supply is struggling to keep pace with rapid load growth.[2]
US Renewable Energy Subsidies Face Sharp Reductions
The US is rapidly curtailing subsidies and introducing new obstacles for wind and solar projects, leading to industry uncertainty and financing challenges for post-2026 developments. Most projects moving forward this year were initiated before these policy shifts, with the future pace of deployment now heavily dependent on evolving regulatory and tariff environments.[4]
California Refineries Closing Amid Persistent Drop in Gasoline Demand
A permanent decline in gasoline demand is prompting the closure of several California refineries, signaling a major shift toward electrification and alternative fuels in the state’s energy landscape. This trend is expected to accelerate the adoption of renewables and large-scale energy storage solutions.[7]
Australia’s Demand for Large-Scale Battery Storage Accelerates
Australia is experiencing a rapidly growing need for large-scale battery deployments to support its expanding renewable energy sector. This development underscores the central role of storage in enabling higher penetrations of variable renewables and grid reliability.[7]