We conduct public interest financial analysis on the most profound economic transformation since the industrial revolution: the transition from fossil fuels to clean energy.

In 2024 wind and solar accounted for 37% of total power capacity in the country, poised to overtake coal’s 39% share imminently. With the foundational energy transmission, generation and storage capacity infrastructure now in place, the Chinese energy transition has evolved beyond state-led and funded projects. “What’s really driving China’s transition now isn’t just big state projects – it’s the mix of private innovation, tech partnerships, and everyday choices,” Climate Energy Finance China lead Caroline Wang said. Read more

Historically, summer has been the uneasiest period for system operators, but this is now shifting to winter, experts said, and a late summer heatwave when everyone is back at work could yet stress the system. Still, Climate Energy Finance director Tim Buckley highlighted the role of booming solar and batteries to system resilience: “Risks and vulnerability have never been higher, but we also have a lot more fast-to-deploy solutions – when the sun is baking, solar power generation is (almost) highest. And batteries – both utility scale + behind the meter (BTM) home batteries – are a new solution that dramatically build system resilience.” Read more

Analyst Tim Buckley, the founder of think tank Climate Energy Finance, thinks that if Rio ends up buying Glencore’s coal mines as part of the deal “they’re probably paying more than they sold them for, having missed several years of very nice profits”. Buckley says coal miners have made “obscene profits” in recent years as the transition to clean energy slowed due to the influence of Donald Trump and prices soared due to Vladimir Putin. “There was some massive windfall war profiteering going on with Putin’s invasion of Ukraine,” he says. But he says costs have also soared and “when prices go back to anything like normal it’s going to be ugly”. Read more