Rapid Growth of Solar Energy Offers Hope Amid Rising Energy Costs

Wed, 29 Apr 2026 01:28:00 +0200

As global energy costs soar, the rapid expansion and declining cost of renewable energy offer a bright spot. Between 2022 and 2024, the amount of solar energy installed worldwide doubled, and in the first three quarters of 2025, solar power accounted for 83% of all new electricity-generating capacity. This remarkable growth is driven by a nearly 90% reduction in the cost of both solar panels and battery storage over the last decade. The cost decline makes renewable energy increasingly competitive against fossil fuels. In Pakistan, for example, the amount of solar capacity installed in just the past 18 months now represents roughly one-third of the country's total grid capacity. Environmentalist Bill McKibben highlights this trend in his book, 'Here Comes the Sun,' noting the profound implications of both rapid adoption and affordability. While global emissions continue to rise and governmental responses lag, the accelerating deployment of solar and storage technology signals a promisin