Renewable energy refers to energy derived from natural sources that are replenished at a rate faster than they are consumed. Unlike fossil fuels, which take millions of years to form and release stored carbon when burned, renewable energy sources such as solar, wind, hydroelectric, geothermal, and biomass harness ongoing natural processes to generate electricity and heat. The fundamental appeal of renewables lies in their potential to provide virtually limitless energy while dramatically reducing greenhouse gas emissions and air pollution.
The rapid expansion of renewable energy technologies over the past two decades has been driven by steep cost declines, supportive government policies, and growing awareness of climate change. Solar photovoltaic module prices have fallen by more than 99% since 1976, and onshore wind turbine costs have dropped by roughly 70% since 2009. These cost reductions, combined with improvements in energy storage and grid integration, have made renewables cost-competitive with or cheaper than fossil fuels in most markets worldwide. As a result, renewables accounted for the majority of new electricity generation capacity added globally in recent years.
Beyond electricity generation, the renewable energy transition encompasses broader systemic changes including the electrification of transportation, the development of green hydrogen for industrial applications, and the redesign of energy grids to accommodate variable generation sources. This transition presents both technical challenges, such as intermittency management and long-duration storage, and socioeconomic opportunities, including job creation, energy independence, and improved public health outcomes from reduced air pollution.