Speed is a product of solid technique, which is based on muscle memory. As an example, if you want to be able to play 16th note triplets at 200bpm, you would first need to master it at 100bpm. Using alternate picking as the example, you might practice chromatics:
E-----------------------------------------------1-2-3-4-
B--------------------------------------1-2-3-4----------
G-----------------------------1-2-3-4-------------------
D--------------------1-2-3-4----------------------------
A-----------1-2-3-4-------------------------------------
E--1-2-3-4----------------------------------------------
You could repeat the exercise up and down the neck - do it to a metronome and play at a speed you are comfortable with. Then, you slowly increase the tempo over time... and it will take a while depending on how often you practice and for how long.
Make sure you warm up, especially before pushing yourself (and more in the colder months) - if you pick up an injury you'll set yourself back further than if you are just a little more patient. You could also vary the exercise above, and miss out your middle or ring finger for instance so you can get used to strict alternate picking with uneven numbers of notes on each string. The variations are almost limitless, and you'll be best place to decide what will give you the most advantage.
Just make sure not to continue pushing the speed if the notes are getting sloppy - you'll only reinforce bad habits... and if you need any more info, please come back and ask away...
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