IEA forecasts almost 4,800 GW of renewable capacity additions through 2031

PARIS — Global renewable power capacity is set to increase by almost 4,800 gigawatts (GW) in the 2026-2031 period, the IEA said in its Renewables 2026 report, as governments seek to strengthen energy security and reduce their exposure to imported fuels.²

That increase is almost 60% more than was added in the previous six-year period, according to the IEA.² Solar PV is set to account for more than three-quarters of global renewable capacity growth to 2031, followed by onshore wind.²

The IEA said that for the first time, the amount of renewable power capacity added in emerging and developing economies outside China is expected to match the amount added in advanced economies in the forecast period.²

China will remain the largest contributor, but its share is set to decline from over 60% in 2025 to an average of 53% over the forecast period, the IEA said.² India's total renewable capacity is set to more than double by 2031.²

"Previously, environmental concerns were the policy priority behind the growth of renewables, whose falling costs have made them a competitive option in many markets – but today, it's mainly energy security that is driving renewables' expansion as more and more countries seek to reduce their exposure to imported fuels," IEA Executive Director Fatih Birol said.²

The IEA forecast that the use of renewable energy for transport will rise by more than 60% by 2031, covering 6% of the transport sector's energy demand worldwide.² Its biofuels forecast was revised up by 40% compared with last year's report.²

Advanced-stage renewable energy and storage projects waiting for grid connections worldwide increased by 60% over the past year to 3,000 GW, the IEA said.²

The report provides forecasts through 2031 for renewables across electricity systems, transport, heating and biogases.¹