Growth Drives Transformation, Not Proportion

Renewable energy, particularly solar and wind, accounts for about 14% of global electricity supply, but its significance lies in its rapid growth rather than its current market share. These renewables contribute approximately 80 to 90% of net growth in electricity supply, indicating that the increase in generation capacity is crucial to understanding the energy landscape. In the past year, 500 out of 600 terawatt hours of new electricity generation came from solar and wind, emphasizing their role in driving the transition to renewable energy. This trend suggests that peak carbon emissions could occur sooner than anticipated, especially as the West navigates the challenges posed by its unique governmental policies and planning structures.