Renewables could meet almost half of global electricity demand by 2030 – IEA
With solar leading the way, renewables could meet almost half of global electricity demand by the end of this decade, says a new IEA report.
The International Energy Agency (IEA) just released its “Renewables 2024” report, which projects that by the end of this decade, global renewable energy capacity is set to grow by more than 5,500 gigawatts (GW).
To put that in perspective, that’s about as much power capacity as the current combined total of China, the EU, India, and the US.
From 2024 to 2030, new renewable installations are expected to be nearly three times higher than what we saw between 2017 and 2023. China is leading the way and will be responsible for almost 60% of all new renewables added in that time frame, meaning it will account for nearly half of the world’s renewable power capacity by 2030. Meanwhile, India is seeing the fastest growth among major economies.
Solar is the biggest driver of this surge, with solar PV expected to make up 80% of the new renewable capacity. This is thanks to the ongoing construction of large solar power plants and more rooftop solar being installed by homeowners and businesses. Wind is also set for a strong rebound, doubling its growth rate between now and 2030 compared to the previous seven years. Right now, wind and solar are already the cheapest ways to generate new electricity in almost every country.
This rapid growth means nearly 70 countries – representing 80% of global renewable power capacity – are on track to meet or even exceed their current renewable energy goals for 2030. While the world is set to add an impressive amount of renewable capacity by 2030, it may still fall slightly short of the goal set at COP28 to triple capacity by then. But the IEA says that meeting this goal is doable if governments make bold commitments, enhance international cooperation, and address high financing costs, especially in high-potential regions like Africa and Southeast Asia.
IEA Executive Director Fatih Birol highlighted that renewables are expanding faster than many governments can even set new targets. He emphasized that it’s not just about emissions reductions or energy security – it’s because renewables are simply the cheapest option for new power generation in most countries. “By 2030, we expect renewables to be meeting half of global electricity demand,” Birol said.
The IEA report warns, however, that governments will need to step up efforts to integrate solar and wind into power grids. Some countries are seeing renewable power generation curtailed – or not even used – at rates of up to 10%. To fix this, countries will need to boost power system flexibility, streamline permitting processes, and build or modernize electric grids and reach 1,500 GW of storage capacity by 2030.
The report also looks at renewable manufacturing, especially for solar. Global solar manufacturing capacity is expected to exceed 1,100 GW by the end of 2024, far outpacing demand. This oversupply, mainly coming from China, has driven down solar module prices but also put financial pressure on manufacturers. Meanwhile, solar manufacturing capacity is expected to triple in both India and the US by 2030, helping to diversify the global supply chain – though costs remain significantly higher outside of China.
The big takeaway? Renewables are expanding faster than many anticipated, thanks to supportive policies and improving economics. But to fully harness the potential of solar, wind, and other renewable energy technologies, governments will need to work together to overcome the financial and infrastructure challenges that still stand in the way.
Dave Jones, independent energy think tank Ember‘s director of global insights, said: “Policymakers are embracing solar and wind like never before, but they are still two steps behind the reality on the ground. The market can deliver on renewables, and now governments need to prioritize investing in storage, grids, and other forms of clean flexibility to enable this transformation. The next half decade is going to be one heck of a ride.”
Read more: Prices fall for residential solar, demand is up for battery storage – EnergySage
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Rad Power Bikes has filed for Chapter 11 bankruptcy protection, marking a dramatic turn for one of the most recognizable names in the US electric bike industry. The Seattle-based company entered bankruptcy court this week as part of a plan to sell the business within the next 45–60 days, while continuing to operate during the process.
Court filings show Rad listing roughly $32.1 million in assets against $72.8 million in liabilities. A significant portion of that debt includes more than $8.3 million owed to US Customs and Border Protection for unpaid import tariffs, along with millions more owed to overseas manufacturing partners in China and Thailand. The company’s remaining inventory of e-bikes, spare parts, and accessories is valued at just over $14 million. Founder Mike Radenbaugh remains the largest equity holder, with just over 41% ownership.
The bankruptcy filing comes less than a month after the US Consumer Product Safety Commission issued a rare public warning urging consumers to immediately stop using certain older Rad lithium-ion batteries, citing fire risks, particularly when certain batteries are exposed to water and debris. Rad pushed back on the agency’s characterization, stating that its batteries were tested by third-party labs and deemed compliant with industry safety standards, and touting its SafeShield batteries – another, more recent version of Rad’s battery introduced last year that is likely one of the safest e-bike batteries in the industry.
Financial pressure had been building steadily on the company. In early November, Rad Power Bikes issued a WARN notice to Washington state officials, indicating that up to 64 employees could be laid off in January, and warning that the company could shut down entirely if additional funding was not secured. That notice now reads as an early signal of the restructuring that has followed.
Chapter 11 bankruptcy is not the end of a company, and in this case, it allows Rad to continue operating while restructuring its debts under court supervision, pausing most litigation and collection efforts through an automatic stay. The company says it plans to keep selling bikes and supporting customers during the process as it works toward a sale.
The filing caps an unfortunate fall from grace for a brand that raised hundreds of millions of dollars in several funding rounds during the pandemic years. After years as a dominant force in the direct-to-consumer e-bike market, Rad now faces an uncertain future shaped by tightening margins, regulatory scrutiny, and unresolved legal and financial challenges.
via Bicycle Retailer
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As Texas braces for tighter power margins and record demand on the ERCOT grid, Sunrun and NRG Energy are transforming home batteries into a giant virtual power plant. The two companies are integrating more home battery storage into the grid and tapping those batteries when the state needs power the most.
The solar + storage provider and energy company announced a new multi-year partnership aimed at accelerating the adoption of distributed energy in Texas, with a focus on solar-plus-storage systems that can be aggregated and dispatched during periods of high demand. The idea is simple: use home batteries as a flexible, on‑demand power source to help meet Texas’s rapidly growing electricity needs.
Under the deal, Texas homeowners will be offered a bundled home energy setup that pairs Sunrun’s solar and battery systems with retail electricity plans from NRG’s Texas provider, Reliant. Customers will also get smart battery programming designed to optimize when their batteries charge and discharge. As new and existing Sunrun customers enroll with Reliant, their combined battery capacity will be made available to support the ERCOT grid during times of stress.
“This partnership is a major step in achieving our goal of creating a 1 GW virtual power plant by 2035,” said Brad Bentley, President of NRG Consumer. “By teaming up with Sunrun, we’re unlocking a new source of dispatchable, flexible energy while giving customers the opportunity to unlock value from their homes and contribute to a more resilient grid.”
Sunrun, which has one of the largest fleets of residential batteries in the US, will be paid for aggregating the capacity, and participating Reliant customers will be compensated by Sunrun for sharing their stored solar energy.
The arrangement gives Texas households a way to earn money from their batteries while also improving grid reliability in a state that continues to see rapid population growth, extreme weather, and rising electricity demand.
Read more: The US’s first residential V2G power plant is running on Ford F-150 Lightning trucks
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Volkswagen is gearing up to launch a new family of affordable EVs, starting with the ID.Polo. Can it fill the shoes of the popular low-cost hatch?
Volkswagen announces ID.Polo EV range and more
The ID.Polo will be the first of four new entry-level electric vehicles that Volkswagen plans to launch, starting in Spring 2026.
The electric Polo “marks the beginning of a new generation of Volkswagen,” the brand’s CEO, Thomas Schäfer, said. The Polo is one of the best-selling VW models of all time, and its electric successor promises to build upon its legacy.
It will be the first “ID” model to bear an established Volkswagen name. Although it’s about the same size as its predecessor at 4,053 mm long, 1,816 mm wide, and 1,530 mm tall, with a wheelbase of 2,600 mm, the Polo EV offers more interior space.
Thanks to its compact drive modules, the electric Polo offers an extra 19 mm of interior length, which is “particularly noticeable in the rear.”
The luggage compartment is 24% larger than the classic Polo, with 435 L, up from 351 L. Folding the rear seats opens up 1,243 L of load volume, up from 1,125 L.
According to Volkswagen, the electric ID.Polo is “more versatile than any of its predecessors,” making it the perfect EV for getting around the city or as an everyday driver.
The Volkswagen ID.Polo will initially be available with three power outputs: 85 kW (114 hp), 99 kW (133 hp), and 155 kW (208 hp), while a sporty GTI variant will follow later in 2026 with 166 kW (223 hp).
The 85 kW and 99 kW versions will be equipped with a 37 kWh lithium iron phosphate (LFP) battery, while the 155 kW and 166 kW versions will be powered by a 52 kWh nickel manganese cobalt (NMC) battery, which Volkswagen said will deliver up to 450 km (280 miles) WLTP driving range. It will also support DC charging speeds up to 130 kW.
Based on a new MEB+ platform, Volkswagen promises that the new, highly efficient electric drive will reduce costs and energy consumption.
The new PowerCo unified cell uses cell-to-pack technology, combining cells directly into the battery pack. Volkswagen said the new design reduces costs, saves space, and unlocks more range while increasing energy density by about 10%.
VW’s MEB+ platform will also introduce new advanced driver assistance systems (ADAS) features, including a drastically improved Travel Assist. The ID.Polo will also be the first VW model to offer traffic light and stop sign recognition.
Can it live up to the task?
According to Autocar, which got the chance to test a prototype, the ID.Polo “feels remarkably like the current Polo. Switch from the petrol Polo into this and, a lack of engine noise aside, you would barely notice the difference.”
The reviewer, James Attwood, said the electric Polo delivered a “genuinely impressive ride for a car of this size,” adding it “drives and feels like you’d expect a Volkswagen to.”
With an affordable price tag, “the ID.Polo should be a strong all-rounder among the pack of small EVs suddenly battling for attention,” Attwood explained.
“It has a classically Volkswagen feel, poise and maturity, and blends a pleasingly mature driving experience with decent practicality and a reassuringly solid feel,” he said, adding, “A Volkswagen that feels like a Volkswagen, then. For that alone, it should be a winner.”
Others who got an early taste of the ID.Polo reported similar thoughts, including Auto Express, which said it “shows VW at its best.”
“Solid, well connected, comfortable and even quite engaging to drive, the ability to build all of this into a well-priced package is something we all hoped for; the surprising bit is how much of VW’s innate ‘character’ has come through,” Jordan Katsianis said after testing the pre-production prototype.
The ID.Polo will launch in Europe in Spring 2026 with prices starting from 25,000 euros ($29,500). It will be the first of four new affordable Volkswagen EVs, followed by the ID.Cross SUV and the smaller ID.1 electric car.
Although Volkswagen has yet confirm it, the ID.Polo is (sadly) not expected to launch in the US. It’s an affordable electric car aimed at Europe’s growing entry-level EV segment. Given the recent policy changes under the Trump administration and America’s love for big trucks and SUVs, don’t expect to see the electric Polo successor in the US anytime soon.
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