The International Renewable Energy Agency (IRENA) has reported that around 585GW of new renewable energy capacity was added globally in 2024, marking a record annual growth rate of 15.1%. However, according to IRENA’s Renewable Capacity Statistics 2025, the global total renewable capacity now stands at 4,448GW, still falling short of the 11.2 terawatts required to meet the global target of tripling renewable energy capacity by 2030.
To meet this ambitious goal, IRENA estimates that renewable capacity must now grow by 16.6% annually through 2030.
The majority of the capacity expansion in 2024 occurred in Asia, with China contributing nearly 64% of the global increase. Central America and the Caribbean, on the other hand, accounted for just 3.2% of the added capacity. The G7 and G20 countries contributed 14.3% and 90.3%, respectively, to the new capacity in 2024.
IRENA Director-General Francesco La Camera noted, “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 own expansion records, but we also face the same challenges of great regional disparities and the ticking clock as the 2030 deadline is imminent.”
He continued, emphasizing the urgency of expanding renewable power capacity: “With economic competitiveness and energy security being increasingly a major global concern today, expanding renewable power capacity at speed equals tapping into business opportunities and addressing energy security quickly and sustainably.”
Solar and wind energy led the expansion, together accounting for 96.6% of net renewable capacity additions in 2024. Solar energy, in particular, saw a 32.2% increase, reaching a total of 1,865GW, while wind energy grew by 11.1%. This growth was partly driven by the large-scale decommissioning of non-renewable power plants in certain regions.
Despite these gains, IRENA stressed that much more needs to be done to achieve the 2030 renewable energy capacity target outlined in the Paris Agreement. The agency has called on governments to use the upcoming round of Nationally Determined Contributions (NDCs 3.0) to set clear and measurable renewable energy goals and to enhance international collaboration, particularly to support the ambitions of countries in the Global South.
La Camera concluded, “I call on governments to leverage the next round of NDCs 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 countries.
