The vast majority of new renewable capacity will come from solar installations both big and small. Between now and 2030, IEA projects the world will build 2.5 terawatts of utility-scale solar and nearly 1.7 terawatts of distributed solar. For comparison, just 745 gigawatts of large-scale solar and 556 gigawatts of small-scale solar were built between 2017 and 2023.

If solar grows at this rate, it will become the largest source of renewable energy in the world by the end of the decade, leapfrogging wind and hydropower. And should IEA’s forecast for overall renewable energy additions prove accurate, just under half of global electricity generation — not capacity, generation — will come from renewables by 2030.

At this point, there’s really no question as to whether renewable energy will expand quickly in the coming years. The only questions are whether it will expand quickly enough — and to what extent it will actually displace fossil fuels. 

Clean Energy Counsel is the only mission-driven law firm exclusively focused on renewable energy and clean technologies. From early-stage venture investment, offtake, site control, equipment supply, and EPC contracting, through project acquisitions, debt, and tax equity, we counsel clients through every stage of the project life cycle. Visit our website to explore how we can work together toward a sustainable future.