Global Power and Renewables Market Outlook

Gain insight on our comprehensive global power and renewables market outlook for the renewable market. This report provides a brief overview of the S&P Global Energy outlooks for global power markets to 2050, in terms of capacity additions, generation and investments for conventional technologies, renewables and electricity storage.

Key messages:

• Power sectors globally are challenged as energy security comes to the fore amid continued demand growth pressure. Global power demand will increase nearly 80% in the next 25 years.
• Shifting political considerations lead to diverging resource expansion paths, as energy security becomes a priority. Clean energy resources have scaled up just in time to meet the moment, accounting over 95% of capacity additions through 2050, although thermal resources remain resilient.
• The installed capacity of conventional thermal fuels is expected to rise by 9% through 2035, and remain 3% elevated in 2050, as many existing resources remaining online for resiliency.
• The rate of renewables deployments will vary widely across regions. This results from differences in resource endowment, energy security concerns, policy initiatives (including incentives and supply chain localization requirements) and the ability to attract financing. China, India, Europe, and North America alone will account for close to 80% renewable additions.