PARIS, 10 Nov. - (ANA) - The oil and gas shock from the Strait of Hormuz is speeding up the transition to renewables almost everywhere in the world, but not in Europe, the International Energy Agency (IEA) said in its annual renewables report.

 

The Paris-based agency expects global renewable power capacity to grow by almost 4,800 GW between 2026 and 2031, which is 57 percent more than in the previous six years. 

 

But it cut its expected growth forecast for Europe by six percent compared to estimates made last year, although Europe will still add around 100 gigawatts (GW) a year until 2031.

 

“Higher electricity prices associated with the current conflict in the Middle East have not yet translated into major policy revisions or a measurable acceleration in installations,” the report says about the situation in Europe. 

 

In most places, the adoption of renewables is speeding up, driven by high costs of fuels and energy security worries. 

 

“Previously, environmental concerns were the policy priority behind the growth of renewables,” said IEA executive director Fatih Birol on Friday. 

 

“Today, it’s mainly energy security that is driving renewables’ expansion as more and more countries seek to reduce their exposure to imported fuels,” he also said. 

 

The IEA raised its forecast for the United States by almost 40 percent compared with last year, and for sub-Saharan Africa by 54 percent.

 

For the first time, poorer countries outside China will add renewables as fast as rich ones. 

 

 

 

 

Renewables have risen to the top of the policy agenda in many countries around the world as the current energy crisis underscores their role in strengthening energy security and diversifying supply. Disruptions to energy flows through the Strait of Hormuz stemming from the Middle East conflict have driven up oil and gas prices and increased market volatility.

 

Because renewable resources are widely distributed, every country has domestic potential that can be developed competitively to strengthen energy security. Yet governments do not have to choose between security, affordability and sustainability. With well-designed policies, renewables can offer countries a way to diversify their energy mix, reduce exposure to imported fuels and high prices, lower overall electricity supply costs and cut emissions.

 

Renewables are already delivering major energy security benefits. Without their growth since 2010, global annual demand for fossil fuels would have been around 8% higher in 2025, an amount equivalent to India’s total energy consumption. Renewables have also displaced natural gas consumption equivalent to 11% of global demand. This has lowered the influence of gas-fired power plants on wholesale electricity prices and helped limit price increases during the crisis in many countries. In addition, the growth of biofuels and other renewables since 2010 has displaced 2.4 million barrels of oil equivalent per day – comparable to Canada’s total oil demand.   - (ANA) -

 

To download the full report, visit: file:///Users/alibahaijoub/Downloads/Renewables2026.pdf

 

 

AB/ANA/10 November 2026 - - -