Growing Renewable Energy

Renewable energy is growing rapidly worldwide; investment in solarsurpassed investmentin oil for the first time in 2023, though global renewable electricity generation still lags behind 2030 Paris Climate Agreement targets. The Inflation Reduction Act promised $60 billion in incentives for wind and solar power generation, with potential impacts ranging from job creation to a more robust and clean energy grid. As it stands, however, only three of 50 identified components of the energy system (solar photovoltaics, electric vehicles, and lighting) were on track to achieve net-zero emissions by 2050, according to areportfrom the International Energy Agency.