Global Renewable Energy Surge: Record Growth in 2024 Falls Short of 2030 Goals

In 2024, global renewable energy capacity saw record growth, though it still falls short of 2030 targets, according to an IRENA report. China led the growth, contributing significantly to solar capacity. Despite the positive trend, achieving 2030 goals requires overcoming regional disparities and increasing the growth rate.

In 2024, the global renewable energy sector experienced unprecedented growth, yet it remains behind the required pace to reach 2030 climate targets, the International Renewable Energy Agency (IRENA) reported. Renewables accounted for 92.5% of newly added energy capacity, totaling 585 gigawatts.

Despite remarkable growth figures, the current progress is insufficient to meet the necessary 11.2 terawatts by 2030, according to the Paris climate agreement. To meet these growing demands, the world needs to tackle regional disparities in energy development, warned IRENA Director General Francesco La Camera.

China spearheaded the global renewable additions, contributing 64% of the new capacity, with 278 gigawatts from solar energy alone. While the Group of Seven accounted for 14.3%, Central America and the Caribbean had the smallest share with 3.2%. Solar and wind energies were the driving forces, making up 96.6% of the new additions in 2024.

(With inputs from agencies.)