The International Energy Agency (IEA) recently released its "Renewable Energy 2025" report, stating that global renewable energy capacity is expected to double between now and 2030, increasing by 4,600 gigawatts (GW). Solar photovoltaic (PV) will account for nearly 80% of this increase, followed by wind, hydropower, bioenergy, and geothermal energy. This scale is roughly equivalent to the combined current generating capacity of China, the European Union, and Japan, representing a doubling compared to the past five years. From 2025 to 2030, it is projected that more than 80% of countries worldwide will experience faster renewable energy capacity growth than in the past five years; however, challenges such as grid integration, supply chain vulnerability, and financing are also increasing.

　　The IEA projects that global renewable energy capacity will be 2.6 times that of 2022 by 2030. However, this growth rate will still be insufficient to achieve the goal set at the 28th United Nations Climate Change Conference (COP28) of tripling renewable energy capacity by 2030. Specifically, solar photovoltaic capacity will more than double, wind power capacity will nearly double, hydropower will account for 3% of new renewable energy generation, and geothermal energy growth will reach a record high, three times the growth rate of 2024.

　　Despite a surge in global installations, major solar PV and wind power manufacturers continue to face immense pressure, with financial sustainability being a primary concern. Since 2023, PV module prices have plummeted by over 60% due to oversupply and intense competition, causing a sharp drop in profit margins for major manufacturers and resulting in accumulated losses of nearly $5 billion. Wind turbine manufacturers outside of China are also struggling, incurring losses of $1.2 billion in 2024.

　　In terms of sectors, renewable energy's share of energy demand in the transportation sector will increase from the current 4% to 6% by 2030. Nearly half of this growth will come from renewable energy charging for electric vehicles, primarily in China and Europe; liquid biofuels will account for the majority of the remainder, with growth concentrated in Brazil, followed by Europe, Indonesia, India, and Canada. By 2030, 18% of global heating will come from renewable energy, 4% higher than in 2024, primarily driven by increased electricity and bioenergy demand in the industrial and building sectors.