By Abbas Nazil
The global energy sector is experiencing a historic transformation as nations accelerate the transition from fossil fuels to renewable energy to meet growing demand and achieve long-term sustainability goals.
According to News.az, this shift is reshaping economies, redefining geopolitics, and driving technological innovation across the world.
From vast solar farms in the Middle East to offshore wind hubs in Europe and Asia, renewable energy has become the cornerstone of a new era of clean power and environmental responsibility.
The International Energy Agency (IEA) projects that by 2030, nearly 90 percent of new power generation will come from renewable sources, marking a decisive break from the fossil-fuel-dominated grids of the past.
Solar energy leads the global expansion due to record-low costs and rapid installation rates, while wind power continues to grow through advances in turbine technology and energy storage.
Governments are responding with ambitious policies and investments.
In the United States, the Inflation Reduction Act offers massive tax incentives for clean energy, while the European Union’s Green Deal supports hydrogen, offshore wind, and energy efficiency projects.
China, the world’s largest renewable technology producer, continues to dominate solar and battery manufacturing while expanding its ultra-high-voltage grid networks.
Emerging economies such as Kenya, India, and Chile are also scaling up clean energy to meet rising demand and expand energy access.
The cost of renewable technologies has dropped dramatically, with solar prices falling over 80 percent and onshore wind by half in the past decade.
Battery prices have also declined by nearly 90 percent since 2010, fueling record global investments that exceeded $1.8 trillion in 2024.
This clean energy boom has created millions of jobs, with the International Renewable Energy Agency reporting over 14 million employed globally in 2024, nearly half in solar energy.
Despite progress, challenges persist, including limited storage capacity, grid infrastructure needs, and competition over critical minerals such as lithium and cobalt.
However, the momentum toward sustainability is irreversible.
The combination of policy reforms, innovation, and falling costs has made renewable energy not just a climate solution but a foundation for a more resilient and equitable global economy.
The renewable revolution is no longer a vision—it is the defining energy story of the 21st century.