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Global Clean Energy Surges Past 40%—While Trump Backs Fossil Fuels

Clean energy has hit a historic milestone, with renewables and nuclear power generating 40.9% of global electricity in 2024, according to a new report from energy think tank Ember. The rapid expansion of clean energy continues despite a policy shift in the U.S., where the Trump administration is doubling down on fossil fuels.

Key Facts

  • Renewable energy surged by 858 terawatt hours (TWh) in 2024, a 49% jump from the previous record of 577 TWh in 2022.
  • Solar power remains the fastest-growing electricity source for the 20th consecutive year, expanding by 29% year-on-year.
  • Despite its rapid rise, solar still accounts for just 6.9% of low-carbon electricity, while hydroelectric power leads at 14.3%, followed by nuclear (9%) and wind (8.1%).
  • Nuclear energy has hit its lowest share of clean energy in 45 years.

Quote Of Note

“Solar energy has become a driver of the global energy transition. In just three years, solar power generation has doubled, surpassing 2,000 TWh in 2024. While some countries are stepping back from their climate commitments, the economic advantages of renewables are creating unstoppable global momentum.” — Phil McDonald, Managing Director of Ember

China And India Lead As U.S. Stalls

While Washington pivots back toward fossil fuels, China and India are accelerating their clean energy transformation. China alone accounted for more than half of the world’s solar power growth in 2024, with renewables meeting 81% of its increasing electricity demand. Meanwhile, India’s solar capacity doubled in 2023, reinforcing the role of emerging economies in reshaping global energy markets.

“The future of the global energy system is being shaped in Asia,” says Professor Xunpeng Shi, president of the International Society for Energy Transition Research. “Their growing reliance on renewables marks a turning point that will accelerate the decline of fossil fuels worldwide.”

Market Forces Vs. Politics

Even as the Trump administration pushes fossil fuels, market forces continue to tip the scales in favor of renewables. The falling costs of solar and battery storage, combined with surging energy demand from AI, data centers, and electric vehicles, are reinforcing clean energy’s dominance.

“Despite geopolitical and economic challenges, the renewable energy industry added another 858 TWh last year—more than the combined electricity consumption of the UK and France,” says Bruce Douglas, CEO of the Global Renewables Alliance.

The Inevitable Shift

Federal policies in the U.S. may slow domestic renewable expansion, but the global trajectory is clear: clean energy growth is outpacing electricity demand, signaling the beginning of a permanent decline in fossil fuel reliance.

Ember’s latest report confirms a stark reality: clean technologies—not coal, oil, or gas—are driving global economic growth. As the world moves forward, the U.S. risks falling behind in the race to lead the clean energy economy.

Cyprus 2025 State Budget: A Detailed Analysis Of Revenue And Expenditure Implementation

Budget Overview

Cyprus recorded an 87% revenue implementation rate and a 92% expenditure implementation rate in the 2025 state budget, according to the latest Treasury report. Total revenue reached €10.20 billion, compared with €10.81 billion in 2024, while total expenditure amounted to €11.99 billion versus €12.42 billion a year earlier.

Revenue Trends And Tax Contributions

The decline in revenue was mainly linked to a €1.07 billion drop in loan withdrawals. This was partly offset by stronger tax collection. Direct taxes increased by €0.37 billion, while indirect taxes rose by €0.17 billion.

VAT revenue grew by 4% to €3.16 billion, reflecting an increase of €0.08 billion. Direct taxes rose by 6% to €3.79 billion, supported by higher personal and corporate income tax receipts.

Expenditure Dynamics And Social Investments

Overall expenditure declined slightly, largely due to a €0.84 billion reduction in loan repayments. At the same time, social benefits increased by 5% to €2.02 billion, mainly driven by an €0.08 billion rise in healthcare-related spending.

Transfers and grants rose 11% to €1.93 billion, reflecting higher contributions to the Social Insurance Fund and increased support for municipalities. Operating expenses fell by 3% to €1.12 billion, while payroll, pensions, and gratuities remained stable at €3.52 billion.

Capital Expenditure And Co-Financed Projects

Capital expenditure reached €469.3 million. Key allocations included road infrastructure (€97.3 million) and construction projects (€77.4 million), alongside investments in water systems, government buildings, and school expansions.

Co-financed projects implemented €336.3 million. Funding covered initiatives such as subsidies for childcare and nutrition programs for children under four, as well as residential energy-efficiency upgrades.

Comparative Analysis And Development Expenditure

The average state budget expenditure implementation rate over the past decade stands at 91%. Development expenditure implementation reached 81% in 2025, exceeding the ten-year average of 69%.

The data indicates continued fiscal discipline combined with increased execution of development projects and targeted social spending.

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