The International Energy Agency (IEA) has released a new global outlook showing that renewable-energy capacity is expected to grow at one of the fastest rates in history over the next few years, with solar photovoltaic (PV) technology leading the charge.
According to the IEA, solar remains the cheapest source of new electricity generation in most countries, largely because of rapid improvements in efficiency and falling manufacturing costs. As a result, governments and private investors are accelerating solar development at utility-scale, commercial, and residential levels.

Wind power—both onshore and offshore—is also set to experience strong expansion, supported by improved turbine designs, better grid-integration technology, and increased financing from climate-focused institutions.
The IEA report suggests that by 2030, renewables could become the dominant source of global electricity production, potentially overtaking coal and natural gas in many regions.

The agency also emphasizes that additional policy support, streamlined permitting, grid upgrades, and long-duration energy storage will be essential to keep the momentum going.