UN Report Reveals Historic Global Shift to Solar and Wind Power Driving Unprecedented Drop in Energy Costs

A new report from the United Nations highlights a global surge in solar, wind, and other forms of green energy, signaling a historic tipping point that could lead to even lower energy costs worldwide. The data shows that renewable energy accounted for a record 86 percent of new power capacity added in 2023, with solar power leading the charge, reflecting an “unstoppable shift” toward cleaner, more affordable sources.

This rapid growth is being driven by falling technology costs and increasing policy support, particularly in countries like China, the U.S., and members of the European Union. The UN stresses that this trend not only reduces greenhouse gas emissions but also gives more people access to reliable electricity. However, the report warns that further policy reforms and grid upgrades are still needed to fully unlock renewables’ potential and reach global climate goals.

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