Global renewable energy installed capacity to double to 8.4TW by 2031

GlobalData’s latest report, 'Renewable Energy' is among the latest strategical quality reports from GlobalData, the manufacture investigation specialist. The study provides an manufacture investigation of the renewable vigor market, its increasing request and however it is disrupting powerfulness utilities and the powerfulness sector. The study focuses connected the trends related to renewable vigor arsenic a taxable successful technology, macroeconomic and regulatory trends. The study briefs connected elaborate investigation of the renewable vigor worth chain.

The study is built arsenic a azygous taxable offering in-depth probe utilizing information and accusation sourced from manufacture associations, institution websites, authorities websites, and statutory bodies. The accusation is besides sourced done different secondary probe sources specified arsenic manufacture and commercialized magazines.

Global renewable vigor installed capableness is acceptable to grow astatine a accelerated gait implicit the adjacent 5 years, driven by the precocious scalability of star PV deployment, persistent outgo deflation, and progressively robust argumentation tailwinds. Worldwide renewable installed capableness is forecast to much than double, from 4.1TW successful 2025 to 8.4TW by 2031, registering a compound yearly maturation complaint (CAGR) of 13% during the period.

Worldwide renewable capableness reached a caller highest successful 2025, with the Asia–Pacific (APAC) portion dominating upwind installations astatine 699.5GW and star PV capableness astatine 1,550GW, led by China. Across overmuch of the world—again anchored by China—renewable concern and capableness additions proceed to accelerate to grounds levels, portion the US enters a signifier defined by higher costs, accrued volatility, and slower task delivery.

Solar PV and upwind volition stay pivotal to the renewables modulation globally. In 2025, star PV emerged arsenic the largest root of renewable energy generation, surpassing wind. GlobalData estimates upwind output astatine 2,770TWh successful 2025, compared to 2,800TWh from star PV.

PV deployment successful China is scaling rapidly, driven by carbon‑neutrality objectives, expansive concern passim the proviso chain, and crisp outgo reductions that person positioned star among the cheapest sources of electricity. China unsocial generated 1,150TW, accounting for astir 41% of planetary star PV output past year.

The US and India followed, generating 486TWh and 189TWh, respectively. In some countries, star PV output is rising rapidly, supported by steep outgo reductions, progressively enabling argumentation regimes—most notably the US Inflation Reduction Act and India’s flagship star missions—and a strengthening imperative to decarbonise nationalist powerfulness systems.