DUBAI: The world installed a record-breaking amount of renewable energy capacity in 2024, with China leading the charge, according to a report released by the International Renewable Energy Agency (IRENA) on Wednesday.
Global renewable energy capacity—spanning solar, wind, hydroelectric, and geothermal sources—grew by 15.1%, reaching nearly 4.5 terawatts. A staggering 585 gigawatts of renewable power was added to grids worldwide, accounting for 92.5% of all new electricity generation capacity.
“The continuous growth of renewables each year proves their economic viability and scalability,” said IRENA Director-General Francesco La Camera. “However, we still face regional disparities and an urgent timeline to meet global climate goals.”
At COP28 in 2023, world leaders pledged to triple renewable energy capacity by 2030, requiring annual growth of 16.6% to reach 11.2 terawatts by the end of the decade.
Asia played a pivotal role in 2024’s renewable surge, with China alone contributing 64% of all new capacity worldwide. Solar photovoltaic installations dominated, making up over three-quarters of the newly installed capacity, with China accounting for more than half of that expansion.
UN climate official Simon Stiell noted that Asia’s renewable energy growth rate was double that of Europe, urging the continent to accelerate its clean energy transition. “In a global clean energy boom worth $2 trillion last year, the opportunities are immense,” he emphasized.
