Renewables Face 1,650 GW Grid Backlog as $3.17 Trillion Energy Transition Market Expands
Updated
Updated · marketscale.com · Jul 12
Renewables Face 1,650 GW Grid Backlog as $3.17 Trillion Energy Transition Market Expands
1 articles · Updated · marketscale.com · Jul 12
Summary
At least 1,650 GW of near-ready renewable projects were still waiting for grid connections worldwide in 2024, emerging as the main operational brake on a market projected to hit $3.17 trillion in 2026.
That queue is building even as global renewable capacity grew by 585 GW in 2024 to 4,448 GW, outpacing transmission and distribution upgrades needed to move new power.
Battery storage is increasingly being treated as core infrastructure rather than an add-on: utility-scale additions reached 63 GW in 2024, and the IEA expects batteries to supply about 90% of storage growth needed by 2030.
The broader transition market is forecast to reach $5.99 trillion by 2032, with renewables holding a 35% share and solar accounting for 30% of the technology mix.
Asia-Pacific is the largest and fastest-growing region at roughly 12.0% CAGR, while distributed energy systems are expanding at about 11.5% as companies seek options less exposed to grid-connection delays.