Why Renewable Energy isn’t Displacing Fossil Fuel Fast Enough
Although wind and solar electricity generation has become more affordable than coal or natural gas across most markets, regulatory and financial obstacles prevent faster transition. Renewables supplied over 90% of generating capacity additions worldwide during 2024, but challenges such as permitting delays and limited access to capital access have resulted in slow adoption, especially in rapidly industrializing nations where energy demand grows fastest. Mature renewable technologies have made using clean energy to generate utility scale cheaper than using natural gas and coal, providing sustained economic advantages over fossil alternatives which require continuous fuel purchases. In 2024, renewable energy installations prevented…
