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Renewables accounted for 93% of global growth in electricity generating capacity in 2024, according to a new report by the International Renewable Energy Agency (IRENA).
Another 585GW of renewable energy capacity was installed in 2024, a 15% increase from the prior year. That brings cumulative renewables capacity to 4,448GW, per IRENA’s Renewable Capacity Statistics 2025 document.
Wind, solar, geothermal, hydro and other renewable technologies now comprise 46% of world-wide power generating capacity, up from less than 30% in 2015.
However, things still aren’t moving fast enough. If the world is to meet its goal of tripling renewables capacity by 2030, an annual growth rate of 17% over the next five years is needed. Further, China accounted for almost two-thirds (64%) of new additions in 2024, meaning many regions are falling further behind.
“The continuous growth of renewables we witness each year is evidence that renewables are economically viable and readily deployable,” IRENA director-general Francesco La Camera said in a statement. “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.”
La Camera said national governments needed to set clear targets for their renewable energy ambitions, and should work together to assist uptake in the Global South.
United Nations secretary-general António Guterres, said: “Renewable energy is powering down the fossil fuel age. Record-breaking growth is creating jobs, lowering energy bills and cleaning our air… 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.”
