Solar & wind uptake to reach 5.4 TWac from 2024 to 2033

Global solar deployment to add 3.8 TWac of new project capacity by 2033 compared to 1.6 TW of wind power, 640% growth for energy storage

From 2024 to 2033, developers will bring more than 5.4 terawatts (TWac) of new solar and wind capacity online, increasing the cumulative global total to 8 TWac, as the world endeavours to electrify economies and meet decarbonisation targets, according to latest analysis by Wood Mackenzie.

Energy storage capacity (excluding pumped hydro) will grow by more than 600%, with nearly 1 TW of new capacity expected to come online in the same period. This makes energy storage one of the fastest growing markets in the power industry as renewable integration challenges rise.

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Source: Clean Technica

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