"Clean power just crossed a historic threshold: In 2024, 96% of new energy added to the U.S. grid was from renewable energy and more than 40% of the world's electricity came from low-carbon sources, driven by record renewables growth and a solar surge that has doubled output in three years. That's the market-not politics-pricing the future in real time. When the cheapest, fastest-to-build electrons scale this quickly, capital follows."
"As one would expect in an economy transitioning to cleaner energy, financing and deals from banks for fossil-fuel projects are declining. Bloomberg recently reported that funding provided by the top six U.S. banks to oil, gas, and coal projects fell 25% so far this year. Big banks may have left GFANZ (Glasgow Financial Alliance for Net Zero) due to political pressure, but their investments tell a different story."
Market forces are driving a rapid clean-energy transition as renewables become the cheapest and fastest-to-build power sources. In 2024, 96% of new U.S. grid additions were renewable, and over 40% of global electricity came from low-carbon sources, propelled by record renewables growth and a solar surge that doubled output in three years. The IEA reports renewables will overtake coal as the world's top electricity source by 2026. Major U.S. banks reduced funding for oil, gas, and coal projects by 25% year-to-date. Hedge funds are rotating out of oil into renewables because risk-adjusted returns now favor clean energy.
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