US, China Policy Changes Cloud Global Renewables Outlook
With major economies like China and the U.S. retreating from their climate commitments, the International Energy Agency recently cut its renewable capacity projection for 2030 by nearly 900 gigawatts. The Paris-based organization now expects 4,600 gigawatts of renewable capacity by decade's end compared to last year's 5,500 gigawatt forecast, effectively confirming failure to achieve the international target of tripling clean energy deployment by 2030. American projections dropped sharply following the Trump administration's elimination of federal tax credits through recent legislation. These incentives previously made capital-intensive projects financially viable, and their removal has forced developers to reconsider or abandon plans across…