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Global renewable energy capacity surged by 585 GW in 2024, marking a record growth rate of 15.1%, yet still falling short of the 11.2 terawatts needed by 2030. Solar and wind dominated the expansion, with solar capacity alone increasing by 32.2%, driven primarily by China and India.IRENA emphasized the urgency for annual additions exceeding 1,120 GW to meet climate goals, while UN Secretary-General Antonio Guterres highlighted the economic and environmental benefits of this transition.
The world is falling short of the COP28 goal to triple renewable energy capacity by 2030, with current plans projected to achieve only half of the necessary growth. Despite a record addition of 473 gigawatts in 2023, annual investments remain at just over a third of the required $1.5 trillion, highlighting significant regional disparities and the urgent need for improved financing and infrastructure. IRENA emphasizes that the upcoming NDCs must significantly enhance renewable targets to realign global efforts towards the climate goals.
Mission 2025 urges governments to adopt investment-positive policies to mobilize $1 trillion annually for clean energy, highlighting successful strategies from industrialized nations. Despite record renewable capacity growth, the UN warns of a two-speed transition, with developing countries facing high capital costs and debt crises, risking global climate goals. The IEA emphasizes the need for stable policies and international support to ensure equitable investment in clean energy across all economies.
International Renewable Energy Agency IO
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global renewable energy capacity surges by 585 gigawatts in 2024
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10:30 27.03.2025
world falls short of renewable energy targets despite record growth
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15:48 11.10.2024
global energy transition faces challenges as investment disparities widen
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