Renewables grew rapidly in 2023, but must grow faster still to meet climate change target, IEA says The amount of renewable energy installed around the world last year grew at its fastest rate in the past 25 years. AP News

The world’s renewable energy grew at its fastest rate in the past 25 years in 2023, the International Energy Agency reported Thursday in its first assessment since nations agreed in December on ambitious new targets to slow dangerous climate change.

Utility Dive Trendline on The Energy Transition to Renewables Inside the rapidly changing world of The Energy Transition to Renewables. Access the Utility Dive Trendline Utility Dive

The U.S. energy sector is undergoing a fundamental transition to a cleaner and more distributed future. Increasingly favorable economics, corporate commitments, and state and federal actions, like the enactment of the Inflation Reduction Act, are all spurring the deployment of renewable energy resources.

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BARREN RIDGE, CA - APRIL 4: The new project will join the current large Barren Ridge solar panel array in Kern County, California. (Photo by George Rose/Getty Images)GETTY IMAGES

CLICK HERE - Kern County, CA - Eland 1 Solar Project

forbes.com - by Jeff McMahon - July 1, 2019

Los Angeles Power and Water officials have struck a deal on the largest and cheapest solar + battery-storage project in the world, at prices that leave fossil fuels in the dust and may relegate nuclear power to the dustbin.

Later this month the LA Board of Water and Power Commissioners is expected to approve a 25-year contract that will serve 7 percent of the city's electricity demand at 1.997¢/kwh for solar energy and 1.3¢ for power from batteries.

"This is the lowest solar-photovoltaic price in the United States," said James Barner, the agency's manager for strategic initiatives, "and it is the largest and lowest-cost solar and high-capacity battery-storage project in the U.S. and we believe in the world today. So this is, I believe, truly revolutionary in the industry."