London-based data analytics and consulting company GlobalData says global renewable capacity will more than double to 8.4 TW by 2031, with PV reaching nearly 6 TW, a 13% compound annual growth rate from 2025 levels of 4.1 TW.
The “Renewable Energy: Strategic Intelligence” report says solar has become the main driver of global renewable expansion due to falling costs and supportive energy transition policies. PV generation reached 2,800 TWh in 2025, surpassing wind generation of 2,770 TWh.
In capacity terms, solar accounted for about 56.1% of global renewable capacity in 2025 with more than 2.5 TW installed. Wind represented 33.5% of total capacity, while bioenergy contributed around 5.3%.
The Asia-Pacific region led global deployment, with 699.5 GW of installed wind capacity and 1,550 GW of solar capacity in 2025. China generated about 1,150 TWh of solar electricity that year, representing around 41% of global PV output.
The United States (US) and India followed China as major solar producers, generating 486 TWh and 189 TWh of PV electricity respectively.
GlobalData also says the energy transition is developing unevenly across regions. While renewable support in the US could weaken following policy changes under President Donald Trump, deployment in other regions continues to accelerate.
The report also highlights the growing role of artificial intelligence in the power sector. AI is being used to improve renewable generation forecasting, optimise energy storage dispatch and coordinate smart grid operations, while rapid growth in AI data centres is creating new large-scale electricity demand.
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