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Five Energy Transition Lessons for 2025
Jan 22, 2025
Albert Cheung, Deputy CEO of BloombergNEF, dives into the mixed results of clean energy in 2024, revealing record EV sales and clean power gains yet highlighting critical shortfalls in achieving net zero by 2050. He discusses five key lessons for the energy transition, addressing the challenges of insufficient investment while emphasizing the resilience of clean energy initiatives. Cheung also spotlights the urgent need for improved policies and collaboration in emerging sectors like hydrogen and offshore wind to foster a sustainable future.
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Quick takeaways
- Record advancements in clean energy technologies highlight the progress towards a lower-carbon economy, yet substantial gaps remain in achieving net zero by 2050.
- The energy transition is evolving into a more complex arena requiring innovative solutions, sound policies, and strategic investments to overcome emerging challenges.
Deep dives
Unstoppable Growth in Clean Energy
The energy transition is expected to maintain its growth trajectory despite challenges faced in various sectors. Recent statistics indicate significant increases in clean energy technologies; for instance, the installation of solar PV rose by 35%, while energy storage increased by 76% in 2024. Although certain areas like offshore wind and clean hydrogen face hurdles, overall deployment shows promising signs, with projections for substantial clean hydrogen production capacity by 2030. This suggests that despite external factors and slower growth rates in some regions, the energy transition will not experience a significant slowdown.
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