IEA: Renewables to Add 4,800 GW by 2031 as Hormuz Crisis Accelerates Shift

The IEA's Renewables 2026 report projects 4,800 GW of new renewable capacity by 2031, driven by the Strait of Hormuz crisis and fuel price spikes. For the first time, emerging markets outside China will match advanced economies in capacity additions. This marks a policy shift toward energy security, accelerating the global energy transition.

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