Renewable Energy Capacity Surges to an All-Time High of 4,448 Gigawatts in 2024, Yet More Rapid Increases are Necessary to Achieve 2030 Goals – Report by IRENA

Renewable Energy Capacity Surges to an All-Time High of 4,448 Gigawatts in 2024, Yet More Rapid Increases are Necessary to Achieve 2030 Goals – Report by IRENA

The International Renewable Energy Agency (IRENA) has released its Renewable Capacity Statistics 2025, painting a mixed picture of the global renewable energy landscape. While 2024 saw a record annual growth rate of 15.1%, the current pace of renewable energy growth is not sufficient to meet global climate targets or align with the Paris Agreement.

The report serves as both a celebration of progress and a call for accelerated, equitable action to secure a sustainable energy future. IRENA aims to triple global renewable energy capacity to at least 11,000–11,200 GW (11–11.2 terawatts) by 2030 to align with the 1.5°C climate pathway and commitments made at COP28.

However, the current deployment rate falls significantly short of this ambition. To meet the target, annual capacity must grow by 16.6% each year through the end of the decade. Key challenges include insufficient annual capacity additions, infrastructure bottlenecks, persistent barriers like financing challenges and permitting delays, supply chain vulnerabilities, geopolitical risks, and ongoing fossil fuel investments.

Asia, led by China, accounted for 64% of the new capacity in 2024. China added 278 GW of solar energy in 2024, the most of any country. India contributed 24.5 GW of solar energy, while the United States and Brazil also made significant contributions.

Solar Energy's global growth in 2024 was 451.9 GW, making up 77% of total renewable growth. Hydropower showed a strong rebound in 2024, reaching 1,283 GW. Wind Energy reached 1,133 GW, growing by 11.1%. Bioenergy recovered in 2024 with 4.6 GW added, led by China and France (1.3 GW each).

Notable contributions to hydropower growth in 2024 came from Ethiopia, Indonesia, Nepal, Pakistan, Tanzania, and Vietnam. Geothermal expanded by 0.4 GW in 2024, driven by New Zealand, Indonesia, Türkiye, and the US.

Central America and the Caribbean contributed only 3.2% of the new capacity in 2024. The G7 nations accounted for 14.3% of the global additions in 2024, while the G20 nations were responsible for 90.3% of global additions.

Off-Grid Electricity nearly tripled in 2024, growing by 1.7 GW to reach 14.3 GW, primarily through off-grid solar in developing regions. IRENA continues to assist member countries with the implementation of clean energy strategies through country-level engagement.

The report concludes by calling for quantifiable renewable energy targets in NDCs 3.0, urging countries to take urgent and substantial policy, investment, and infrastructure actions to accelerate the pace of deployment and meet the 2030 goal.

[1]: IRENA (2025). Renewable Capacity Statistics 2025. [Online]. Available: https://www.irena.org/publications/2025/Mar/Renewable-Capacity-Statistics-2025 [2]: UNFCCC (2021). COP26 Glasgow Climate Pact. [Online]. Available: https://unfccc.int/process-and-meetings/the-convention/the-paris-agreement/the-paris-agreement-implementation/cop26-glasgow-climate-pact [3]: IRENA (2021). Global Energy Transitions Outlook 2021. [Online]. Available: https://www.irena.org/publications/2021/May/Global-Energy-Transitions-Outlook-2021 [4]: IRENA (2022). World Energy Transitions Outlook 2022. [Online]. Available: https://www.irena.org/publications/2022/Nov/World-Energy-Transitions-Outlook-2022 [5]: IRENA (2022). Accelerating the Energy Transition: A roadmap for the G20. [Online]. Available: https://www.irena.org/publications/2022/Oct/Accelerating-the-Energy-Transition-A-roadmap-for-the-G20

1. The government and the financial industry must address financing challenges and permitting delays to accelerate renewable energy growth and meet global climate targets set by environmental science, such as those from the Paris Agreement.
2. In order to triple global renewable energy capacity to 11,000–11,200 GW by 2030, as aimed by IRENA, the technology and industry sectors must find solutions for infrastructure bottlenecks, geopolitical risks, and ongoing fossil fuel investments.
3. The progressive stance of nations like China, India, and the United States, along with Brazil, in investing in renewable energy, specifically solar energy, will play a significant role in shaping the future energy landscape, as demonstrated by their contributions in 2024.
4. To secure a sustainable energy future, IRENA is currently helping member countries implement clean energy strategies through country-level engagement, while also advocating for quantifiable renewable energy targets in future NDCs.
5. In the pursuit of a more sustainable energy landscape, it is crucial for Central America and the Caribbean, as well as G7 nations, to invest more heavily in renewable energy and work towards overcoming obstacles, like infrastructure limitations and policies that hinder growth, to catch up with the pace set by G20 nations.

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