Record annual growth in renewable energy generation capacity

While 2024 represents a major milestone in renewable energy production capacity and growth, the progress made remains insufficient to meet the 11,2 terawatts needed to achieve the global target of tripling installed renewable energy capacity by 2030. To achieve this, this capacity will now need to grow by 16,6% per year until that deadline.

Furthermore, these advances once again highlight significant geographic disparities. As in previous years, most of the growth took place in Asia, with China alone accounting for nearly 64% of global capacity additions, while Central America and the Caribbean contributed only 3,2%. The G7 and G20 countries accounted for 14,3% and 90,3% of new capacity in 2024, respectively.

For IRENA Director General Francesco La Camera: “The continued growth in renewable energy we are witnessing each year is proof that renewable energy is economically viable and easily deployable. Each year, it continues to break its own expansion records, but large regional disparities persist, and time is running out: the 2030 deadline is fast approaching. Economic competitiveness and energy security are now a growing global concern. To accelerate the development of renewable energy generation capacity, we must seize new market opportunities and ensure rapid and sustainable energy security. I call on governments to use the next round of Nationally Determined Contributions (NDC 3.0) to set clear ambitions for renewable energy, and on the international community to intensify collaborative efforts to support countries in the Global South.”

For the Secretary-General of the United Nations, António Guterres: “Renewable energy marks the end of the era of fossil fuels. Its record growth is creating jobs, lowering energy bills, and cleaning the air we breathe. Renewable energy revitalizes economies. But the transition to clean energy must be faster and more equitable, so that every country can fully benefit from clean, affordable renewable energy.”

Solar and wind continued to experience the strongest growth, together accounting for 96,6% of all net renewable energy additions in 2024. More than three-quarters of the capacity expansion was in solar, which grew 32,2% to 1.865 GW, followed by wind, which grew 11,1%.

The significant net decommissioning of non-renewable energy in some regions has contributed to the upward trend in renewable energy capacity. However, much remains to be done to achieve the goal of tripling renewable energy capacity by 2030 and the targets set by the Paris Agreement. In recent years, IRENA has pushed for NDC 3.0 to set clear and quantifiable renewable capacity targets. To this end, the Agency has contributed to the improvement and implementation of its members' NDCs, focusing on the energy sector through its engagement with countries.

Technology Highlights:

• Solar energy: Last year, solar photovoltaic power grew by 451,9 GW. China alone added 278 GW to the total expansion, followed by India (24,5 GW).
• Hydropower (excluding pumped storage): Capacity reached 1.283 GW, recording a significant rebound since 2023, thanks in particular to China. Ethiopia, Indonesia, Nepal, Pakistan, Tanzania, and Vietnam each added more than 0,5 GW.
• Wind energy: its expansion has slightly decreased, bringing the total capacity to 1.133 GW by the end of 2024. Once again, the main contributors remain China and the United States of America.
• Bioenergy: Expansion picked up again in 2024, with an increase of 4,6 GW of capacity, above the 3,0 GW in 2023. China and France, with 1,3 GW of additions each, contributed significantly.
• Geothermal energy: Its capacity increased by 0,4 GW overall, mainly due to New Zealand, followed by Indonesia, Turkey and the United States of America.
• Off-grid electricity (excluding Eurasia, Europe, and North America): Capacity nearly tripled, gaining 1,7 GW to reach 14,3 GW. This growth was led by off-grid solar, which reached 6,3 GW by 2024.

Read the full article Renewable Capacity Statistics 2025 report.

Illustrative image of the article via Depositphotos.com.