Solar and battery storage lead today’s renewable investment landscape. Solar capacity jumped 35% globally, while battery installations doubled to 170 GWh. EV sales? Up 26% to 16 million vehicles. Green hydrogen’s catching big oil’s attention too. The real kicker? Solar module prices dropped 35%, and batteries fell below $100/kWh. Tech giants signed a record 28 GW of clean energy contracts. The smart money’s spotting these trends before everyone else does.
While traditional markets struggle with uncertainty, the renewable energy sector is having a moment. Global solar capacity hit a staggering 1,250 GW in 2024—up 35% from last year. Not impressed yet? Solar module prices plummeted 35% to just 9 cents per watt. Yeah, you read that right. Nine. Cents. This isn’t your grandfather’s energy market anymore.
Wind power isn’t sitting on the sidelines either. Global capacity jumped to 1,050 GW this year. Offshore projects are finally taking off, representing 7% of wind investments. Europe’s getting serious too, raising offshore targets to 111 GW by 2030. They’re not messing around.
Battery storage is the dark horse nobody saw coming. Installations nearly doubled to 170 GWh in 2024, while prices dropped below $100/kWh. That’s a game-changer. The U.S. alone expects to add 14.9 GW of battery capacity next year. Grid operators are finally figuring out that pairing storage with renewables makes sense. Took them long enough.
Green hydrogen’s gone from buzzword to reality. Production capacity is headed to 16 million tons by 2030, with costs projected to fall 50% by then. U.S. electricity demand is expected to surge with a projected 3% annual growth over the next five years, creating significant market opportunities. Even big oil can read the writing on the wall—they’re pouring money into hydrogen projects like there’s no tomorrow.
EVs continue their relentless march. Global sales jumped 26% to over 16 million vehicles in 2024. Battery costs tanked by 30-50% for cathodes. In China, EVs already cost the same as gas cars. The rest of the world isn’t far behind.
Corporate America is all-in on clean energy. Companies signed contracts for a record 28 GW in 2024, with tech firms driving 84% of the action. Intensive research from Deloitte’s team shows how these developments are reshaping the energy transition implications for traditional industrial sectors.
Emerging markets are where the real growth is happening. India, Pakistan, Turkey, and Saudi Arabia saw solar capacity growth above 50% in 2024. China dominates EV sales, while African renewable capacity doubled year-over-year. The energy revolution is going global, ready or not. Together with wind, solar is projected to generate over 30% of global power by 2030, marking a historic shift in our energy landscape.
