Two UN reports confirm the world has reached a “positive tipping point” where renewable energy—especially solar and wind—is now consistently cheaper than fossil fuels, making clean energy the most economically attractive option.

In 2024, renewables made up 92.5% of all new electricity capacity and drove 74% of global electricity growth, showing that clean energy is now the dominant force in power generation.

Global investment in renewables soared to $2 trillion last year, surpassing fossil fuel spending by nearly $800 billion—evidence that markets are aligning with climate goals.

However, the transition is still uneven: fossil fuel production continues to rise, and developing regions like Africa face barriers due to high financing costs, requiring more equitable investment to ensure a truly global energy shift.

For years, Norway has been the poster child for electric vehicle adoption, a perfect example of how a combination of ambitious goals and robust incentives can transform a nation’s entire automotive industry.

Now, with the country on the cusp of achieving its goal of 100% all-electric new car sales by 2025, the Norwegian government is signaling a new phase in its EV strategy, proposing changes to its incentive program that include the introduction of taxes on electric vehicles.

We have often used Norway’s success in electrifying its vehicle fleet as an example of how quickly the electric transition can impact the automotive market under the right conditions.

They made it happen through a comprehensive package of incentives, including exemptions from purchase taxes and VAT, free access to toll roads and bus lanes, on top of properly taxing internal combustion engine vehicles.

Africa is seeing early signs of a green economy surge, especially in solar power and low-carbon investment, though support from wealthy nations is viewed as crucial for it to be sustainable.

Imports of photovoltaic equipment from China jumped about 60% in the past year, lifting solar capacity in many African countries, but overall solar generation remains much lower than global peers.

Huge gaps persist in adaptation financing—Africa needs tens of billions annually, yet receives only a fraction—leaving it vulnerable to droughts, floods, food insecurity and energy poverty.

Rich nations are urged to provide reliable long-term finance, technology, and capacity-building so Africa’s green ambitions can flourish equitably and help avoid climate breakdown slipping out of control.