International Energy Agency Revises Global Renewable Energy Forecasts Downward for China, Upward for Latin America and U.S.
The International Energy Agency (IEA) has released a new roadmap for 2031, indicating a significant revision in global renewable energy forecasts. China's projected renewable energy additions have been cut by 116 GW, equivalent to 5% of previous projections, primarily due to regulatory changes that reduced developer margins and a shift from fixed-rate systems to competitive auctions. This has led to a nearly 55% year-on-year drop in photovoltaic additions in China during the first nine months of 2026. Conversely, Latin America and the Caribbean are projected to add 165 GW of renewable energy by 2031, with an upward revision of 12 GW (+9%), driven mainly by distributed solar generation. Brazil is expected to lead this expansion with almost 90 GW, followed by Mexico with approximately 22 GW, and Chile with about 20 GW. The IEA also raised its forecasts for sub-Saharan Africa by 54% and for the United States by almost 40%, compensating for China's slower growth and supporting a global expansion of close to 48...
