Solar and wind are no longer niche energy sources — they are the dominant form of new electricity generation added globally for the fourth consecutive year. In 2025, more than 70% of all new power capacity installed worldwide came from solar and wind. Here is the comprehensive data picture as of early 2026.
Solar Energy: The Most Dramatic Cost Collapse in Energy History
The cost decline of solar photovoltaics is, by many metrics, the most dramatic technology cost reduction ever recorded in energy history. Here's the trajectory:
| Year | Solar Module Price ($/Watt) | Global Installed Capacity (GW) | Cheapest PPA Price ($/MWh) |
|---|---|---|---|
| 2010 | $1.80 | 40 | ~$300 |
| 2014 | $0.70 | 177 | ~$100 |
| 2018 | $0.25 | 480 | ~$30 |
| 2022 | $0.18 | 1,185 | ~$20 |
| 2024 | $0.09 | 3,400 | $14 |
| 2025 | $0.07 | 4,800 | $12–18 |
The $0.029/kWh benchmark (set in an Indian solar auction) represents solar electricity at about one-third the price of coal in most markets. In 2026, newly installed solar is cheaper than running existing coal plants in most of the world — making coal retirements economically rational without any carbon pricing.
Wind Energy: Offshore Boom
Wind energy grew global installed capacity to 2,100 GW by end of 2025, with offshore wind driving the most recent growth. Offshore wind capacity crossed 300 GW globally in 2025, up from just 25 GW in 2018 — a 12x increase in 7 years.
Key offshore wind markets:
- China: 150 GW installed offshore — far ahead of all other countries
- UK: 30 GW installed; building some of the world's largest offshore wind farms
- Germany: 22 GW offshore; target of 30 GW by 2030
- United States: 7 GW offshore installed (slow start due to permitting delays); 30 GW pipeline under development
- Denmark: Pioneered offshore wind; ~6 GW installed, proportion of total electricity generated among highest globally
Country-by-Country Renewable Share of Electricity
These figures represent the percentage of electricity generated from wind and solar in 2025:
- Denmark: 67% (wind dominant)
- Germany: 48% (split solar/wind)
- UK: 44% (offshore wind dominant)
- Spain: 42%
- Portugal: 39%
- Australia: 36% (solar dominant)
- United States: 24% (national average)
- China: 18% (but 1,500+ TWh generated — more than any other country)
- India: 14% (fastest growing market by volume)
Projections to 2030
The IEA's Net Zero Scenario requires solar and wind to reach 14,000 GW of combined capacity by 2030 — roughly double the current level. IRENA's own scenario is slightly less aggressive but still requires adding 800–1,000 GW of new solar and 300+ GW of new wind annually through 2030.
Current installation rates (2025): approximately 500 GW solar and 100 GW wind annually. To meet net-zero targets, these rates need to roughly double by 2030. Investment flows suggest this acceleration is possible — global clean energy investment exceeded $1.8 trillion in 2024, for the first time exceeding total fossil fuel investment.
The 2026 picture is one of extraordinary momentum — but also one where the speed of transition remains insufficient for Paris Agreement targets. The technology is there. The cost curve has delivered. The bottlenecks are now permitting, grid infrastructure, and the political will to manage the economic disruption of rapid fossil fuel displacement.