Asia to beat North America, Europe in renewables expansion

It will grab 45% of the global total share in the next decade.

Asia and North America and Western Europe will be the dominant regions for renewables capacity over the coming 10 years, accounting for a combined 90% of global total renewables capacity by the end of forecast period in 2026, according to BMI Research.

However, the growth outlook in each region varies greatly, with Asia driving global renewables expansion.

Here's more from BMI Research:

Our growth outlook for the global non-hydropower renewables sector over the coming 10-years is positive, and we expect global renewables capacity to expand by over 80% between 2016 and 2026. This growth will be driven by several key fundamentals: the falling cost of generating electricity from renewable energy sources (mainly wind and solar), supportive policy and advancements in technologies that are making renewable energy accessible and more economically viable in a growing number of markets.

Asia and North America/Western Europe will be the dominant regions for renewables capacity over the coming 10 years, accounting for nearly a combined 90% of global total renewables capacity by the end of our forecast period in 2026.

Asia will be at the forefront of the global renewables expansion, increasing its share of the global total over the coming 10 years to 45% - primarily due to growth in India and China. China will maintain its position as the largest renewables market in the world over the coming decade, driven by high levels of investment and supportive government policy - in line with efforts to combat domestic pollution issues