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Oil Crisis Green Shift
The International Energy Agency expects emerging and developing economies outside China, for the first time, to add as much renewable energy capacity as advanced economies over 2026–2031—around 1,100 gigawatts each—amid rising oil and gas prices and supply disruptions. Global capacity is expected to grow by about 4,800 gigawatts, while capacity in Southeast Asia, Africa and the Middle East is projected to triple. China is expected to account for 53% of global growth by 2031, and India for 8.5%. The agency warned of obstacles to connecting projects to power grids: the number of renewable energy projects delayed or curtailed while awaiting grid connections rose by 60% over the past year.
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