That verdict from the world-leading International Energy Agency (IEA) comes today in a new report, which also predicts the world will build as much wind, solar and other renewable power in the next five years as it did in the last 20.
The massive expected increase is some 30% higher than the amount of growth forecast just one year ago.
That fact highlights "how quickly governments have thrown additional policy weight behind renewables," amid energy security concerns following Russia's latest invasion of Ukraine, the IEA said.
"Renewables were already expanding quickly, but the global energy crisis has kicked them into an extraordinary new phase of even faster growth as countries seek to capitalise on their energy security benefits," said the think tank's chief, Fatih Birol.
However, a separate report last month from NGO Urgewald warned oil and gas majors are planning a "frightening" expansion that would pump out an extra 115 gigatons of climate-heating carbon dioxide - the equivalent of 30 years of European Union emissions.
The analysis from the IEA still finds an "extraordinary new phase" of growth will see solar overtake coal to become the largest source of power worldwide by 2027.
Rocketing gas prices have made renewable energy forms even more attractive, not only by eliminating the climate heating gases that come from burning fossil fuels, but also by cutting down costs.
Prices of renewable energy and storage have plummeted by 99% in just 10 years, according to TransitionZero.
"We live in a new energy security age," said Lisa Fischer from climate think tank E3G.
She added: "Counting on fossil fuel sources is no longer an adequate energy security management approach - instead, managing down your demand for fossil fuels is what will give you a more secure energy system."
The IEA's annual report on the outlook for renewables forecasts that capacity worldwide is expected to grow by 2,400 gigawatts (GW) - equal to the entire power capacity of China today - by 2027.
Th surge in renewables is also being fuelled by the United States, China and India implementing policies and market reforms that allow a roll out of renewables faster than planned.
"This is a clear example of how the current energy crisis can be a historic turning point towards a cleaner and more secure energy system," Birol added.
He said renewables' continued acceleration is critical to keeping the door open to limiting global warming to 1.5C. That is the internationally agreed target that UK climate envoy Alok Sharma recently warned was struggling "on life support".
But the world is still on track for a dangerous 2.7C of warming above pre-industrial levels, analysis warned last month.
When China and India are exporting the cheapest energy from the thorium salt reactors they are currently researching and investing in, expect more wars in those nations as current energy giants fund wars against them. And if they aren't allowed to export it by these means, expect them to outpace the development of the rest of the world in short order.