Global renewables to gain 4,800 GW by 2031
By the AFREEQUE newsroom, based on ThisDay
Global renewable energy capacity is expected to increase by nearly 4,800 gigawatts between 2026 and 2031, according to the International Energy Agency. Africa and Asia outside China will account for a major share of this growth for the first time, with solar photovoltaics representing more than three-quarters of new capacity, according to the agency’s report.
New renewable capacity expected between 2026 and 2031 will be nearly 60% higher than that added during the previous six years, according to the International Energy Agency (IEA) report ‘Renewables 2026’. Solar photovoltaics are expected to account for more than three-quarters of this growth, ahead of onshore wind.
For the first time, emerging and developing economies outside China are expected to add as much renewable capacity as advanced economies over the period, according to the IEA. China will remain the world’s largest contributor, but its average share is expected to fall to 53% between 2026 and 2031, from more than 60% in 2025.
India is expected to become the world’s second-largest growth market, with total renewable capacity set to more than double by 2031. In Southeast Asia, the Middle East and North Africa, and sub-Saharan Africa, capacity additions are expected to nearly triple compared with the previous six years.
The IEA also forecasts an increase of more than 60% in the use of renewable energy in transport by 2031. It would then cover 6% of the sector’s global energy demand, while rooftop solar photovoltaic installations at households and small businesses have already improved access to electricity for around 70 million households.
