Our Renewables 2022 report lays out an accelerated case in which renewable power capacity grows a further 25% above the main forecast in the next 5 years, if countries worldwide address key constraints.

This faster growth would move the world closer to a path to reaching net zero by 2050.

Global renewable capacity dedicated to producing hydrogen is expected to rise 100-fold in the next 5 years, becoming a new sizeable growth driver.

50 gigawatts of wind and solar capacity for hydrogen are set to be spread across China, Australia, Chile, the United States and other countries.

Total global biofuel demand is set to expand by 22% over the next 5 years.

This increase is being driven by comprehensive policy support, with the United States, Canada, Brazil, Indonesia and India accounting for 80% of the expected growth.

Signs are emerging of diversification in global solar PV supply chains, with the United States and India set to boost investment in solar manufacturing by up to $25 billion in the next 5 years.

China remains the dominant player, but its global share may decrease from 90% today to 75% by 2027.

Renewables are on track to overtake coal as the largest source of global electricity by early 2025.

And by 2027, solar PV alone is set to be the largest source of power capacity, confirming it as the king of global electricity markets.