Record annual growth in renewable energies
With an expansion of 585 GW, renewable energies accounted for over 90 % of the total global electricity expansion in 2024. This is shown by the recently published survey by the International Renewable Energy Agency IRENA.
The Renewable Capacity Statistics 2025 report, which was published by the International Renewable Energy Agency (IRENA) on March 26, 2025, shows a massive increase in electricity generation from renewable energies in 2024 to an impressive 4,448 gigawatts (GW). The 585 GW added in the previous year corresponds to 92.5 % of total capacity expansion and a record annual increase of 15.1 %.
Still a long way to go despite record growth
Although 2024 has set another benchmark in terms of renewable energy capacity and growth, progress falls short of the 11.2 terawatts needed to meet the global target of tripling installed renewable energy capacity by 2030. To meet this target, annual renewable energy capacity additions must now increase by 16.6 % per year by 2030. In addition, progress is again characterized by considerable geographical disparities. As in previous years, Asia accounted for the majority of the increase, led by China, which contributed almost 64 % of global capacity growth, while Central America and the Caribbean made the smallest contribution with only 3.2 %. The G7 and G20 countries accounted for 14.3 % and 90.3 % of newly added capacity in 2024 respectively. Francesco La Camera, Director General of IRENA, commented: "The steady growth of renewable energy that we are witnessing year after year is a testament to the economic viability and rapid deployment of renewable energy. Even though records are being broken year after year in the expansion of renewable energies, we still face the same challenges, namely the major regional inequalities and the ticking clock in view of the impending 2030 deadline."
More than three quarters is solar energy
Solar and wind energy continue to record the largest growth and together accounted for 96.6 % of the total net increase in renewable energy in 2024. Solar energy accounted for more than three quarters of the capacity expansion, increasing by 32.2 % to 1,865 GW, followed by wind energy with growth of 11.1 %.
The extensive net decommissioning of power generation from non-renewable energies in a number of regions has contributed to the upward trend in renewable energies, IRENA reports. However, more needs to be done to achieve the goal of tripling renewable energy generation capacity by 2030 and the Paris Agreement, it adds. In recent years, IRENA has called for the establishment of clear, quantifiable targets for renewable electricity generation capacity in the NDC 3.0. To this end, the Agency provides support for the improvement and implementation of its members' NDCs with a focus on the energy sector through its engagement in individual countries.
Source: IRENA / Renewable Capacity Statistics 2025
