Solar and wind are now the fastest-growing electricity sources in history, and according to a new United Nations report, announced solar and battery projects will be more than sufficient to hit the 2030 climate goal of tripling renewable capacity.

As Water Issues reported, the growth of solar and wind is easily outpacing that of dirty fuels, with the U.N. noting that in 2023, 96% of new solar installations and onshore wind farms had lower energy costs than new coal and gas plants. The plummeting costs of clean energy have helped accelerate the transition away from fossil fuels, and in 2024, renewables accounted for nearly 93% of all new electricity generation and 74% of the increase in energy production.

Over the past decade, the explosive growth of renewable energy has been truly apparent. The report showed that between 2015 and 2024, the global annual electricity capacity of solar and wind increased by around 140%, while the capacity of dirty fuels increased by roughly 16%.

“We stand at a unique and defining moment in history,” the report’s authors stated, noting that the total global capacity of fossil fuels and renewables is nearly equal. Additionally, electric vehicle sales reached a record high in 2024, with over 17 million units sold, accounting for more than 20% of the global market.

Experts say that solar, wind, and EVs have crossed the point of no return into rapid growth and continuously declining costs. All of this is great news for the economy and job creation as well. Clean energy investments surpassed $2 trillion in 2024, and jobs in the renewable sector reached nearly 35 million in 2023. The report noted that the same year, the industry added around $320 billion to the global economy, representing 10% of gross domestic product growth.

Furthermore, moving away from dirty fuels benefits public health and poorer nations that lack access to reliable electricity. Fossil fuels have been linked to numerous health conditions, including heart disease, stroke, lung cancer, asthma, and COPD, according to Yale Climate Connections. As the world transitions to cleaner energy, air quality will improve and pollution will be drastically reduced.

Regarding energy access, the report noted that 80% of people living without electricity reside in rural areas; renewable solutions, such as off-grid and small-scale installations, could enhance their quality of life and provide affordable electricity.

The clean energy boom is also a great opportunity for investors to back sustainable companies and divest from fossil fuel stocks that are on the decline, according to Investor’s Business Daily.

“This is not just a shift in power. It is a shift in possibility,” U.N. Secretary‑General António Guterres said in a news release.

“There are no price spikes for sunlight, no embargoes on wind. Renewables mean real energy security, real energy sovereignty, and real freedom from fossil-fuel volatility.”

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