Report Highlights Global Shift to Renewable Energy

A report from the Bank of America Institute highlights a surge in electricity demand driven by the AI revolution, suggesting that the U.S. needs to increase its electricity generation capacity by 3 percent to meet this demand. In Pakistan, advancements in renewable energy technologies, particularly solar and wind, are enabling the country to reduce its reliance on fossil fuels, with a goal of 30% renewable energy in total power generation by 2030. The International Energy Agency warns that lengthy permitting processes and inadequate power grid infrastructure are barriers to tripling renewable capacity by 2030, despite global agreements to do so. Australia is expected to add over 7 gigawatts of renewable energy capacity in 2024, with significant growth in both large-scale projects and residential solar installations. Meanwhile, in Pakistan, officials stress the importance of alternative energy technologies to alleviate the financial burden of expensive conventional electricity sources, as showcased in a recent exhibition in Karachi. Overall, the global shift towards renewable energy is gaining momentum, with varying degrees of progress and challenges across different countries.