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Current Climate brings you the latest news about the business of sustainability every Monday. Sign up to get it in your inbox. © 2025 Bloomberg Finance LP The phaseout of federal support for most types of large-scale clean energy with President Trump’s budget, along with his administration’s efforts to dramatically boost production and use of climate-warping fossil fuels, is gloomy news for many environmentalists, cleantech startups and investors. The Trump Administration is also making it harder to build new wind and solar projects on federal land. Look beyond Washington, however, and the story is far more upbeat. Electricity produced worldwide from renewable sources will likely pass coal-fired power for the first time this year and grow steadily through the end of the decade, the International Energy Agency estimates. By 2030, global electricity generation from solar, wind and other sources should top 17,000 terawatt-hours, up nearly 90% from 2023–enough to power both China and the U.S., according to the IEA. Within the U.S., California now gets 67% of its electric power from renewable and zero-carbon sources, including solar, wind, hydro and nuclear. That figure should only increase in the next few years: the state added 7,000 megawatts of clean energy capacity to its grid in 2024, along with massive amounts of battery storage capacity. More than 20,000 megawatts of new clean energy is already under contract to be added by 2030, according to the state. “The world’s fourth-largest economy is running on two-thirds clean power–the largest economy on the planet to achieve this milestone,” said California Gov. Gavin Newsom. Meanwhile, the EU estimates that renewable energy now accounts for a quarter of electric power production in its member countries and should reach 45% by the end of the decade. China, already the world’s top producer of solar panels, wind turbines, batteries…

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Filed under: News - @ July 21, 2025 2:25 pm