The Economist: How the Market, Not Politics, is Pushing Clean Energy Past Fossil Fuels
The Economist's Vijay Vaitheeswaran explains how, despite policy shifts, the clean energy shift cannot be stopped. With $2 trillion in global clean energy investment in 2024—double what’s going into fossil fuels—the momentum for the energy transition continues to grow.From Texas leading renewables under a free-market model, to solar and batteries becoming the cheapest electricity option worldwide, the business case is rewriting the narrative for a sustainable future.
Key takeaways
• $2T clean energy investment in 2024 (double fossil fuel spending)
• Market economics driving transition, not just climate policy
• Texas leads renewables despite free-market approach
• Solar + batteries cheapest electricity option globally
• Energy security favoring domestic clean sources
• "Green hushing" trend - quiet corporate investment
• Momentum unstoppable regardless of policy changes
Timestamps
0:00 - Introduction
0:27 - Global investment trends and deglobalization context
0:42 - $2T clean energy investment milestone
0:57 - U.S. renewable capacity surge - 90% carbon-free
1:19 - Market momentum independent of policy
1:37 - Solar + batteries economic advantage
2:01 - Industrial policy backlash concerns
2:17 - Security vs. climate priorities shift
2:34 - Domestic energy security benefits
2:58 - Value of in-person conferences
3:17 - Contrasting perspectives on global challenges
3:39 - Need for thoughtful dialogue
4:09 - Mind-changing moments and breakthroughs
Filmed at the 2025 GISt conference hosted by Harvard Business School’s Institute for Business in Global Society (BiGS) and the Berkley Economy and Society Initiative (BESI).
Learn about the industrial policy and the GISt project: https://www.hbs.edu/bigs/green-industrial-strategy-conference Receive SMS online on sms24.me
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