Global renewables forecast cut for the first time

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1. Global renewable energy growth forecast down 5%, US faces steepest cut | Despite robust growth so far, the IEA has cut global renewable energy growth forecast through 2030 by 5%. The US faces one of the steepest cuts with overall capacity growth revised down by nearly 50% across most technologies except geothermal. The downgrade stems from the early phase-out of key tax credits, new “foreign entity of concern” (FEOC) restrictions, and an executive order halting offshore wind leasing and limiting permits for solar and onshore wind projects on federal land. Wind is the hardest hit, with capacity growth expected to fall by about 60% (57 GW), while solar PV is projected to see 40% less capacity added by 2030 which is nearly 140 GW lower than previous estimates. Residential solar i