The global energy transition is real. It’s happening faster than almost anyone predicted 10 years ago. Solar costs fell 90% in 14 years. 800 gigawatts of clean energy were added in 2025. And CO2 emissions are still rising. Both things are true at the same time. That is the central story of energy in 2025.

Solar Costs Fell 90% in 14 Years — Nothing in Energy History Matches This

Onshore wind electricity now costs $0.034 per kilowatt-hour. Solar PV costs $0.043. These are the cheapest prices ever recorded for new electricity generation in human history (IEA Breakthrough Agenda 2025, IRENA 2024). In 2010, solar was far more expensive than coal. By 2024, 91% of new renewable projects were cheaper than the cheapest fossil fuel alternative. The cost revolution happened in 14 years. It is still accelerating.

China: The World’s Biggest Clean Energy Builder — and Biggest Coal Burner

China is simultaneously the world’s largest renewable energy builder and its largest coal consumer. China accounted for 58% of all global coal use in 2024 — a new record. It also installs more solar and wind than the rest of the world combined. China’s solar electricity cost is just $0.033 per kilowatt-hour — the cheapest anywhere. The same country is driving both the clean energy boom and the coal problem. There is no simple narrative here.

Where It Goes From Here

The IEA’s Electricity 2026 report projects that power sector CO2 emissions will plateau through 2026–2030 as renewables and nuclear take growing shares. The CO2 intensity of electricity already fell 3% in 2024 — a record. At that pace, electricity becomes the cleanest part of the global economy within this decade. The harder problem is heating, transport, and heavy industry — sectors where electrification is slower and fossil fuels still dominate.