New figures released by the International Renewable Energy Agency (IRENA) show a massive increase in renewable power capacity during 2024, reaching 4,448 gigawatts (GW).
The report, “Renewable Capacity Statistics 2025“, finds that the 585 GW addition last year indicates a 92.5 percent share of the total power capacity expansion and a record rate of annual growth (15.1 percent).
Although 2024 marks yet another benchmark in renewable energy capacity and growth, progress still falls short of the 11.2 terawatts (TW) 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 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, said Francesco La Camera, Director-General of IRENA.
Significant geographic disparities
In addition, progress yet again reflects significant geographic disparities. As in previous years, most of the increase occurred in Asia, with the greatest share being contributed by China—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 accounted for 14.3 percent and 90.3 percent of new capacity in 2024, respectively.
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. I call on governments to leverage on 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, Francesco La Camera said.
Solar PV and wind dominate capacity expansions
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.
- Solar PV: Solar photovoltaics increased by 451.9 GW last year. China alone added 278 GW to the total expansion, followed by India (24.5 GW).
- Hydropower (excluding pumped storage hydropower): Capacity reached 1 283 GW, demonstrating a notable rebound from 2023, driven by China. Ethiopia, Indonesia, Nepal, Pakistan, Tanzania, and VietNam added more than 0.5 GW each.
- Wind: Wind energy expansion declined slightly to a total of 1,133 GW capacity by the end of 2024. Expansion was once again dominated by China and the United States (US).
- Bioenergy: Expansion rebounded in 2024, with an increase of 4.6 GW of capacity compared to an increase of 3.0 GW in 2023. The growth was driven by China and France with 1.3 GW of additions each.
- Geothermal: Geothermal energy increased by 0.4 GW overall, led by New Zealand, followed by Indonesia, Türkiye, and the US.
- Off-grid electricity (excluding Eurasia, Europe, and North America): Capacity expansion nearly tripled, growing by 1.7 GW to reach 14.3 GW. Growth was dominated by off-grid solar energy, which reached 6.3 GW by 2024.
The large net decommissioning of non-renewable power in some regions has contributed to the upward trend of renewable capacity.
However, more needs to be done to reach the goal of tripling renewable capacity by 2030 and the Paris Agreement.
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, said António Guterres, UN Secretary-General commenting on the remarkable progress.
Over the past few years, IRENA has been pressing for clear, quantifiable renewable capacity targets in NDCs 3.0.
To this end, the Agency has been assisting in the enhancement and implementation of its members’ NDCs with a focus on the energy sector through its country engagement.
