Global renewable energy capacity surged in 2024, reaching 4,448 gigawatts (GW), yet progress falls short of the 2030 goal of tripling capacity, according to a report by the International Renewable Energy Agency (IRENA) on Wednesday.
Last year's addition of 585 GW accounted for 92.5% of the total capacity expansion, marking a record 15.1% annual growth, according to IRENA's 'Renewable Capacity Statistics 2025.'
Although 2024 set another milestone in renewable energy growth, it still falls short of the 11.2 terawatts required to meet the global target of tripling installed capacity by 2030, IRENA said.
'To reach this goal, renewable capacity must now expand by 16.6% annually until 2030,' it added.
'As in previous years, most of the increase occurred in Asia, with the greatest share being contributed by China–almost 64% of the global added capacity–while Central America and the Caribbean contributed the least at only 3.2%.'
In 2024, G7 countries contributed 14.3% of new capacity, while G20 nations accounted for 90.3%.
Solar and wind power overwhelmingly led renewable expansion in 2024, representing 96.6% of all new capacity additions.
Solar led the renewable surge, accounting for over three-quarters of new capacity, with a 32.2% increase to 1,865 GW, followed by an 11.1% growth in wind power.
Commenting on the report, IRENA Director-General, Francesco La Camera emphasized that in today's climate of economic and energy security concerns, rapidly expanding renewables offers both business opportunities and a sustainable solution to energy security.
La Camera also called on governments 'to leverage on the next round of Nationally Determined Contributions (NDCs 3.0) as an opportunity to outline a clear blueprint of their renewable energy ambitions, and on the international community to enhance collaborations in support of the ambitions of Global South's countries.'
By Handan Kazanci
Anadolu Agency
energy@aa.com.tr