Global renewable capacity increased by 50% in 2023*
Through each evolution of energy, legacy fuels have been supplemented rather than completely replaced. Today, our energy system sits at another critical inflection point — shifting away from fossil fuels where possible, promoting electrification and adding renewables to the energy mix.
While it will take decades for every contour of this new energy landscape to be fully realized, three foundational themes will be critical:
- With rising geopolitical tensions, energy security is national security.
- Our reliance on fossil fuels will continue for decades, even amidst the energy transition.
- A major transition is underway – with electrification at the center of it.
* Source: IEA