Wow, that's a really nice chart. Renewables (Solar and wind) grow at a rate "not expected before," and this "not expected before" happens every year, again and again. 🤣 I'm taking bets that the rise of energy storage will repeat and overcome this story. P.S. It's like you were selling shoes for 10 years and sold hundreds of thousands of shoes, but only one shoe for a person. And now people realize that you actually need a couple to make things work.
As we kick off 2024, we enter a new critical year when it comes to the climate crisis (every year will be a critical year from now on). Climate-tech deployment has consistently outperformed expectations for the past 20 years. In 2006, the IEA was expecting the global PV installed capacity to be around 100 GW by 2030. At the close of 2022, we have 1,183 GW globally. All this to say "we're doing a lot" and also "we're not doing quite enough". Excited to see how 2024 breaks the charts once again. Happy new year! Source: McKinsey & Company PS. Thanks to Nick van Osdol for bringing this graph back to my memory.