Written by SpringsNewsNG Media Limited, March 26, 2025

Global renewable energy capacity has surged to a record high in 2024, with 585 gigawatts (GW) of new additions, accounting for more than 90 percent of total power expansion worldwide, according to the latest industry data.

The rapid growth was primarily driven by solar, hydropower, and wind energy, which made up the bulk of new installations, according to the Renewable Capacity Statistics 2025 by the International Renewable Energy Agency (IRENA).

The report highlighted a massive increase in renewable power capacity during 2024, reaching a total of 4,448 GW. The 585 GW addition last year indicates a 92.5 percent share of the total capacity expansion and a record annual growth rate of 15.1 percent.

However, IRENA stated that despite 2024 marking another benchmark in renewable energy capacity and growth, progress still falls short of the 11.2 terawatts needed to align with the global goal to triple installed renewable energy capacity by 2030.

“To reach this goal, renewable capacity must now expand by 16.6 percent annually until 2030,” the Agency stated. In addition, progress continues to reflect significant geographic disparities. As in previous years, most of the increase occurred in Asia, with China contributing almost 64 percent of the global added capacity, while Central America and the Caribbean contributed the least at only 3.2 percent.

The G7 and G20 countries, respectively, accounted for 14.3 percent and 90.3 percent of new capacity in 2024. Francesco La Camera, IRENA Director-General, said: “The continuous growth of renewables we witness each year is evidence that renewables are economically viable and readily deployable.

“Each year, they keep breaking their expansion records, but we also face the same challenges of great regional disparities and the ticking clock as the 2030 deadline is imminent.”

He added: “With economic competitiveness and energy security being major global concerns today, expanding renewable power capacity at speed equates to tapping into business opportunities and addressing energy security quickly and sustainably.

“I call on governments to leverage 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.”

Solar and wind energy continued to expand the most, jointly accounting for 96.6 percent of all net renewable additions in 2024. Over three-quarters of the capacity expansion was in solar energy, which increased by 32.2 percent, reaching 1,865 GW, followed by wind energy, which grew by 11.1 percent.

Commenting on the remarkable progress, António Guterres, the United Nations Secretary-General, said: “Renewable energy is powering down the fossil fuel age.

“Record-breaking growth is creating jobs, lowering energy bills, and cleaning our air. Renewables renew economies. But the shift to clean energy must be faster and fairer – with all countries given the chance to fully benefit from cheap, clean renewable power.”

.