The DNV Energy Industry Insights 2026 report shows that renewable energy, including wind, solar and storage, continues to expand globally, although progress is becoming more uneven and regionally fragmented. Renewables remain on a strong growth trajectory, supported by increasing electricity demand and continued investment in clean energy infrastructure. Wind and solar are expected to provide 32% of global electricity by 2030, rising to 50% by 2040.
However, the report identifies grid infrastructure as a major constraint. A majority of respondents state that existing power grids are not sufficient to connect renewable energy sources to areas of high demand, with transmission expansion lagging behind required levels.
Permitting delays are also a key barrier to renewable deployment. Around 70% of respondents indicate that complex approval processes and local opposition are slowing project development.
Energy security has become a central priority for governments and industry, influencing investment decisions across the energy sector.
The report finds that 79% of respondents believe expanding renewable energy capacity improves energy security. At the same time, 74% consider oil and gas necessary to maintain reliable energy supply over the next decade.
Investment priorities reflect this approach. Expanding grid infrastructure ranks as the most important measure to improve energy security, followed by increasing renewable generation and improving energy storage capacity.
The pace of the energy transition has slowed compared with previous years. Only 52% of respondents believe the transition is accelerating, down from 80% in 2022.
Renewable technologies such as wind and solar remain cost competitive in many markets, but face challenges including higher capital costs, supply chain issues and policy uncertainty.
Offshore wind development is particularly affected by regulatory and policy changes in some regions, creating uncertainty for project developers.
Solar photovoltaic and battery storage are the fastest growing renewable segments. Investment in energy storage technologies is expected to increase by 45%, while solar photovoltaic investment is projected to rise by 33%.
The report notes increasing integration of solar with storage systems, improving flexibility and supporting grid stability.
Global electricity demand is rising significantly, driven by electrification, data centres and digital technologies. This trend is expected to support continued growth in wind and other renewable energy sources.
Electricity supply is projected to grow by 55% over the next 15 years, requiring substantial expansion of renewable generation and grid infrastructure.
