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Global Energy Review 2026 Technology: Solar PV and wind
…records. Solar PV accounted for more than three-quarters of new renewable capacity additions worldwide, followed by wind (20%). The remaining share was made up by hydropower, bioenergy, geothermal, concentrating solar power and marine energy. Solar PV capacity additions in 2025 rose by around 12%, surpassing 600 GW for the first time. This expansion brought cumulative solar PV capacity to around 2 800 GW, becoming the technology with the largest installed capacity globally. Thirty countries installed over 1 GW of solar PV in a single year, almost twice as many as in 2020. Meanwhile, following stable growth in 2024, annual…
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Portugal 2026 Executive summary
…wind power generation and solar photovoltaics (PV) in recent years, Portugal has one of the lowest carbon intensities of electricity generation among IEA Member countries. Portugal is entering a mid‑transition that requires managing two interconnected energy systems that are moving in opposite directions: one is based on renewables and electrification and must scale up rapidly; the other is a legacy fossil fuel system that must decline in an orderly way to avoid stranded assets and price shocks. Electricity is becoming the central pillar of energy security and the main driver of emissions reductions.Portugal has established an ambitious direction for…
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Unlocking Ukraine’s Hydrogen Opportunity: A Roadmap Executive summary
…level would require an investment of USD 85-90 billion just for electrolysis and renewables. Tackling the cost of capital is key, since this investment would carry interest payments of USD 165‑175 billion with a cost of capital at 15%, which could fall to be USD 55‑60 billion at 5%.The macroeconomic environment presents challenges. At a macro level, nearly 15% of the population has left the country or been internally displaced, impacting labour availability for hydrogen projects. Inflation has fluctuated between 12% and 26%, and central bank interest rates have been at 10 to 25% affecting the cost of capital for hydrogen projects. In 2024…
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Ramping up Heat Pumps in Moldova: A Roadmap Status and key indicators
…programmes such as Horizon Europe. NARD supports energy-related initiatives by funding projects, fostering partnerships and promoting international collaboration to advance energy research and technology. Energy strategy and objectives Moldova passed legally binding legislation in April 2024 that commits the country to achieving net zero emissions by 2050. In addition to setting this target, Law No. 74 on Climate Action establishes a climate change commission to coordinate policies and public spending on adaptation and mitigation.Moldova’s Energy Strategy of 2030 had set several intermediate targets related to renewable energy, including renewable heat, up until 2020. The country’s National…
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Integrating Solar and Wind in Southeast Asia Executive summary
Southeast Asia stands at a pivotal moment to leverage abundant renewable resources and meet growing demand Electricity demand in Southeast Asia is rising at one of the fastest rates globally, highlighting the importance for all countries to diversify their energy sources. Driven by rapid urbanisation, population growth, industrialisation and rising living standards, demand growth exceeded 7% in 2024 - nearly double the global average. While the Association of South East Asian Nations (ASEAN) member states are becoming increasingly reliant on imported coal and gas for power generation, the recent global energy crisis underscored the risks that this dependence poses through fuel…
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World Energy Outlook 2025 Executive summary
…lean towards renewables and efficiency as solutions. Others focus more on ensuring ample supplies of traditional fuels.There are fractures in the international system and uncertainties over the outlook for trade, but energy trade is more important than ever. Abundant supplies of oil, solar panels, batteries and, before long, liquefied natural gas (LNG) create strong incentives for producers to seek out international markets.There is less momentum than before behind national and international efforts to reduce emissions, yet climate risks are rising. 2024 was the hottest year on record and the first in which global temperatures exceeded 1.5 degrees…
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World Energy Outlook 2025 Net Zero Emissions by 2050
…capacity of renewables increases nearly fourfold from today’s level by 2035 in the NZE Scenario: nuclear and other low-emissions technologies increasingly contribute as electricity demand grows to account for one-third of all energy consumption. Energy efficiency increases by about 4% per year by 2035, double the rate of 2022. Sustainable fuels – including liquid biofuels, biogases, low-emissions hydrogen and hydrogen-based fuels – are widely deployed: their use more than quadruples by 2035 from current levels. Methane emissions are cut by more than 80% by 2035. Global energy-related carbon dioxide (CO2) emissions were 38 gigatonnes (Gt) in 2024…
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Powering Ireland’s Energy Future Executive summary
…In 2024, Ireland supplied about one-third of its electricity from wind, four times the global average and second only to Denmark among countries with gigawatt-scale systems. That made wind the second largest source of electricity in Ireland behind natural gas, which had a share of more than 40%. This achievement – the result of pioneering initiatives to integrate renewables – is outstanding for a relatively small, island-based grid, and it was managed as annual electricity demand grew by about 20% between 2015 and 2023. Ireland is scaling infrastructure and modernising operations further to reach its goals of 80% renewable…
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The Value of Demand Flexibility Executive summary
…By facilitating the integration of variable renewables and reducing reliance on fossil fuels during peak periods, demand flexibility can lower the carbon intensity of the power system by shifting consumption away from peak hours, when emissions are generally higher, sometimes by as much as 70% compared to off-peak times.These benefits are increasingly important as energy systems evolve. Three trends are driving the need for increased demand flexibility:Rising electricity consumption and changing patterns are creating new peaks and straining power systems. Global electricity demand increased by more than 4% in 2024 and is set to continue rising as…
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Financing the Modernisation of Power Systems Beyond Coal Executive summary
…gas markets have reinforced this role, with governments in Southeast Asia increasing coal-fired power generation to maintain electricity supply and manage fuel supply risks.If operated for typical lifetimes and utilisation rates, the existing worldwide coal fleet would emit 330 gigatonnes (Gt) of carbon dioxide (CO2) to 2100 – more than the historical emissions to date of all coal-fired power plants that have ever operated. Countries across developing Asia have added over 1 450 gigawatts (GW) of coal power since 2000. In 2024, the region accounted for nearly three-quarters of global coal-fired power capacity, with around 80% of plants u...
