Global Industry Overview - Global Renewables Capacity To Expand 75% Over Decade - JAN 2018
BMI View: Global non-hydro renewables capacity will increase by 75% between 2017 and 2026, with solar and wind power making up the bulk of this capacity . This will result in non-hydro renewables accounting for 12% of the world's total electricity generation by 2026. Favourable policy and falling technology costs are the primary drivers underpinning the global renewables expansio n.
Non-hydro renewables generation will account for 9% of the world's total electricity generation mix by end-2018, and this will increase to a 12% share by the end of our forecast period in 2026.
Thermal power sources, namely coal and gas, will remain the dominant fuels for the global power sector (over 60% of total generation in 2026), despite widespread decarbonisation efforts.
Renewables Gaining Share In The Global Power Mix Global Power Generation By Type, % Total TWh (LHS) & Global Non-Hydro Renewables Capacity By Type, MW (RHS) e/f = BMI estimate/forecast. Source: EIA, BMI
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