The global non-hydropower renewables sector will experience robust growth over the coming years supported by government climate commitments. We forecast global non-hydropower renewables generation will increase from 3,686TWh in end-2021 to 7,661TWh in 2031 at an annual average growth rate of 7.6%. Non-hydropower renewables capacity will more than double with over 2,100GW coming online over the decade. We highlight that government policies and commitments to decarbonising the power sector are core drivers of this growth.
Following the global climate change conference (COP26) in November 2021, various governments made their net-zero carbon emissions targets. In its aftermath, governments announced agendas to meet such targets. As of May 2022, the UN reports that more than 70 countries, representing a contribution of 76% of global emissions, have put in place a net-zero emissions target. A major part of most governments' plans is to tackle the power generation sector through the promotion of renewables. In markets where hydropower is not readily available, non-hydropower renewables, such as solar and wind power, will be the main contributor. In the map below, we compare markets and their share of non-hydropower renewables generation in the power mix.