It sounds like renewable energy might be going from a pipe dream to an investment theme.

A new report from the McKinsey Global Institute estimates that renewables, primarily solar and wind, could jump from 4% of global power generation to as much as 36% by 2035, reshaping global electricity markets in the process.

So write two McKinsey executives in “Renewable power is taking off around the world and fast approaching a tipping point in its development,” the pair write.

Consider that recent solar-power capacity auctions have come in at record low levels, underscoring how quickly the costs of renewable energy are falling. The price per kilowatt hour in the United States is down to just 3.9 cents. The fastest-growing job category in the U.S. these days is that of wind-turbine service engineer, with median pay around $51,050 a year.

And in January, China said it would shut 85 coal plants and instead invest $350 billion in renewable sources of energy. A global tipping point could be reached in 2025, when solar photo-voltaic and wind power could become competitive with the marginal cost of natural gas and coal production, accelerating the transition. Growth rates in renewable power deployment would likely accelerate after that.