Renewable Energy Hits Record but Needs Faster Growth to Meet 2030 Goals

2025-03-27 global

International, Wednesday, 26 March 2025.
In 2024, renewable energy capacity grew by 585 GW, driven by solar and wind, but fell short of the required 16.6% annual growth to meet 2030 targets.

Solar and Wind Lead Historic Expansion

The renewable energy sector achieved unprecedented growth in 2024, with solar and wind technologies accounting for 96.6% of all net renewable additions [1]. Solar energy demonstrated exceptional momentum, expanding by 32.2% to reach 1,865 GW, while wind energy grew by 11.1% [1][3]. Most notably, solar installations contributed 451.9 GW of new capacity, with China leading the charge by adding 278 GW, followed by India with 24.5 GW [1].

Global Distribution and Regional Disparities

Asia dominated the renewable expansion landscape, with China contributing almost 64% of global added capacity [3]. The G20 nations accounted for 90.3% of new installations, while G7 countries represented 14.3% [3]. However, significant regional disparities persist, with Central America and the Caribbean contributing only 3.2% of new capacity [5]. As IRENA Director-General Francesco La Camera notes, ‘The continuous growth of renewables we witness each year is evidence that renewables are economically viable and readily deployable’ [1].

Impact on Global Energy Landscape

The remarkable growth in renewables has coincided with significant shifts in global energy patterns. Global electricity consumption surged by 4.3%, adding nearly 1,100 terawatt-hours in 2024 [2]. For the first time, renewables and nuclear combined contributed 40% of total global electricity generation [2]. This transition is already showing tangible benefits, with clean energy technologies preventing 2.6 billion tonnes of CO2 emissions annually, equivalent to 7% of global emissions [6].

Challenges and Future Outlook

Despite these achievements, the current 15.1% growth rate falls short of the 16.6% annual expansion required to meet the global goal of tripling installed renewable energy capacity by 2030 [1]. UN Secretary-General António Guterres emphasizes the urgency, stating, ‘The shift to clean energy must be faster and fairer – with all countries given the chance to fully benefit from cheap, clean renewable power’ [1]. To achieve the 2030 target, annual additions must exceed 1,120 GW for the remainder of this decade [8], representing a significant acceleration from the current pace.

Sources

growth renewable energy