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Reproduced from REN21; Chart: Axios Visuals

As the U.S. solar market continues to grow, a new report offers a nice snapshot of the global picture on solar and other renewables.

The big picture: "Solar photovoltaics (PV) and wind are now mainstream options in the power sector, with an increasing number of countries generating more than 20% of their electricity with solar PV and wind," notes the report from the group REN21.

Check out the chart above, which shows that installed global solar PV capacity reached 505 gigawatts last year.

Threat level: While renewable power is increasingly mainstream, the report from REN21 — a coalition of governments, NGOs, industry groups and more — flashes a bunch of warning signs.

  • It notes the worldwide growth rate of new renewable capacity additions has leveled off.
  • And, it argues, the pace of movement to renewables outside the power system is far too slow as global CO2 emissions keep rising.

The bottom line: "The lack of ambitious and sustained policies to drive decarbonisation in the heating, cooling and transport sectors means that countries are not maximising the benefits of the transition — including cleaner air and energy security — for their populations," states the Renewables 2019 Global Status Report.

Go deeper: The global transition to clean energy, explained in 12 charts (Vox)

Go deeper

Ben Geman, author of Generate
Oct 21, 2020 - Energy & Environment

A big renewables deal: Iberdrola's Avangrid to buy PNM Resources

Illustration: Sarah Grillo/Axios

Avangrid, a subsidiary of Spanish energy giant Iberdrola, is buying the big New Mexico-based power company PNM Resources in a $4.3 billion deal.

Why it matters: The companies said the deal, valued at $8.3 billion including debt, will form the third-largest renewable power company in the United States.

Kendall Baker, author of Sports
17 mins ago - Sports

European soccer is at war

Liverpool celebrating its 2019 Champions League victory. Photo: Nigel Roddis/Getty Images

Europe's biggest soccer clubs have established The Super League, a new midweek tournament that would compete with — and threaten the very existence of — the Champions League.

Why it matters: This new league, set to start in 2023, "would bring about the most significant restructuring of elite European soccer since the 1950s, and could herald the largest transfer of wealth to a small set of teams in modern sports history," writes NYT's Tariq Panja.

Dion Rabouin, author of Markets
45 mins ago - Economy & Business

2021's expected earnings blowout begins

JPMorgan CEO Jamie Dimon. Photo: Mark Kauzlarich/Bloomberg via Getty Images

First-quarter earnings so far have been very strong, outpacing even the rosy expectations from Wall Street and that's a trend that's expected to continue for all of 2021. S&P 500 companies are on pace for one of the best quarters of positive earnings surprises on record, according to FactSet.

Why it matters: The results show that not only has the earnings recession ended for U.S. companies, but firms are performing better than expected and the economy may be justifying all the hype.

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