In the past 48 hours, the clean energy industry has seen significant developments amid ongoing political and economic challenges. Recent data from the International Energy Agency shows global renewable energy capacity grew by a record 510 gigawatts in 2024, up 50% from the previous year. However, this growth faces headwinds in 2025.
The U.S. clean energy sector is grappling with uncertainty following policy shifts under the new administration. The Department of Energy reported that over 42,000 clean energy jobs have been lost or stalled in recent months due to changes in federal support. This comes as the U.S. withdrew from key international climate partnerships, including a $45 billion clean energy deal with South Africa, Indonesia, and Vietnam.
Despite these challenges, some positive trends continue. The Coalition for Green Capital announced it has mobilized $25.4 billion in public-private investment for clean energy projects since 2011 through its network of green banks. The organization aims to transform its recent $5 billion federal award into up to $69 billion of investment by 2030.
In the corporate sector, 80 major companies, including Ford, Siemens, and IKEA, participated in advocacy meetings with Congress this week to urge maintaining federal clean energy tax credits. These companies argue the incentives are driving economic activity and reducing costs for businesses and consumers.
Internationally, emerging economies are increasingly industrializing with clean energy. Countries like India, Indonesia, and Brazil are developing strategies to position themselves in clean technology supply chains. Even oil-rich Gulf states are diversifying, with Saudi Arabia planning to invest more in renewables and clean hydrogen than in oil and gas over the coming years.
The industry also saw technological advancements, with reports of new batteries capable of storing days' worth of intermittent wind and solar energy expected to be deployed this year. Additionally, next-generation geothermal power is becoming more cost-competitive, potentially offering another firm, clean energy source.
As the clean energy transition continues, industry leaders are adapting to a complex landscape of policy changes, technological innovations, and shifting global dynamics. The sector's resilience and continued growth in many areas suggest ongoing momentum, even as it navigates new challenges in 2025.