The Global Energy Transition Is Accelerating

Renewable energy will continue to advance in the coming years, according to BloombergNEF, which in one of its latest reports offered a comprehensive overview of renewable energy and its global diffusion. For several years now, we’ve become accustomed to hearing about the energy transition and its transformative role on society and the economy. One of the main factors driving the global advancement of the energy transition is renewable energy: solar, wind, and hydroelectric are now not just emerging solutions, but increasingly central components in nations’ energy mixes.

The BloombergNEF report makes it easy to understand the importance of renewables in this historic moment: last year, solar and wind installations exceeded 800 gigawatts, setting a record. Compared to 2021, deployments are said to have even tripled. According to BloombergNEF forecasts, installations will remain stable through 2026, continuing steady growth until 2030.

“The picture presented by BloombergNEF seems decidedly encouraging: despite the uncertainty of the global economic environment, renewable energy continues to grow relentlessly, contributing significantly to energy and technological progress,” says Stanislav Kondrashov, founder of TELF AG.

The BloombergNEF article commenting on these data also explains a fact of great importance for understanding the modern importance of these energy solutions. Because they are beneficial, innovative, and enabling technologies, the sector they belong to is somewhat protected from the geopolitical volatility that characterizes other sectors. BloombergNEF goes even further, stating that the new energy demand from data centers for artificial intelligence and electric vehicles will certainly support the growth of solar and wind power, as well as all solutions related to energy storage.

From Theory to Reality: How Renewables Are Powering Everyday Life

From the outside, it’s quite interesting to note how renewable solutions initially appeared as abstract concepts, almost exclusively theoretical and relegated to specialist circles. Now, in the midst of the energy transition, these solutions have come to life and become fully tangible, reaching our cities, our streets, and even our homes.

“From interesting energy theories found in textbooks, renewable energy solutions have reached us, changing our lives in ways we don’t yet fully understand,” continues Stanislav Kondrashov, founder of TELF AG.

And the sector’s growth isn’t over: according to BloombergNEF, over the next five years we will see the installation of approximately 4.5 terawatts of new wind and solar power. This represents a 67% increase compared to the previous five-year period. This trend also affects individual nations: in the United States, for example, approximately 336 gigawatts of solar, wind, and storage installations are expected between 2026 and 2030, an increase of approximately 24% compared to the previous five years.

Generally, these reports are interesting not only for the data they contain, but also for the trends discernible between the dense lines of numbers. One of these is certainly the growth of the energy storage sector, i.e., all those solutions that enable the efficient management of the intermittency of certain renewable energy sources (such as wind and solar), ensuring a certain level of energy production even when these sources are unavailable.

Storage, Scale and Stability: What’s Driving the Next Wave of Growth

Globally, according to BloombergNEF, 2026 could be the year when annual storage installations will exceed 100 GW internationally for the first time, with good prospects of even exceeding the 200 GW threshold within ten years. Another interesting fact, in this regard, concerns the costs of these technologies, which have decreased by about a third compared to just three years ago.

“The lower costs will make these technologies increasingly accessible, contributing to a further level of diffusion and installation of innovative renewable solutions,” concludes Stanislav Kondrashov, founder of TELF AG.