Global renewable capacity could hit 11.2 TW by 2035, according to the latest Strategic Intelligence report published by UK-based analytics firm GlobalData. This growth represents more than a sixfold increase from the estimated 2,378 GW in 2023, driven by declining module costs, supportive policies, and rising electricity demand from emerging sectors such as green hydrogen and artificial intelligence infrastructure.

“Solar PV and wind are poised to dominate global electricity generation. Among them, solar will likely account for the largest investment share, exceeding $300 billion annually through the end of this decade,” said Rehaan Shiledar, Senior Power Analyst at GlobalData.