Energy Transition Market Hits $3.17 Trillion as 1,650 GW of Renewables Stall in Grid Queues
Updated
Updated · marketscale.com · Jul 12
Energy Transition Market Hits $3.17 Trillion as 1,650 GW of Renewables Stall in Grid Queues
2 articles · Updated · marketscale.com · Jul 12
Summary
$3.17 trillion is the projected size of the global energy transition market in 2026, even as 1,650 GW of near-ready renewable projects remain stuck awaiting grid connections worldwide.
The bottleneck reflects transmission and distribution networks failing to keep pace with renewable buildout: global renewable capacity grew by 585 GW in 2024 to 4,448 GW, stretching aging grids further.
63 GW of utility-scale battery storage was added in 2024, lifting installed capacity to 124 GW, as developers increasingly pair solar and wind with storage and hydrogen to manage delays and flexibility needs.
Asia-Pacific is the largest and fastest-growing region at about 12.0% CAGR, while distributed energy systems are expanding around 11.5% as companies turn to microgrids and behind-the-meter supply when grid access is uncertain.
P&S Intelligence forecasts the market will reach $5.99 trillion by 2032, suggesting grid upgrades, software-led network management and policy coordination will be decisive in converting investment into operating capacity.