Renewables accounted for 93% of new global installed capacity last year

Total global installed renewable energy capacity rose by a record 15.1% last year to 4 448 GW. The annual addition of 585 GW also meant that renewables accounted for 92.5% of all new installed capacity added worldwide last year. This is according to the yearbook of the International Renewable Energy Agency (IRENA).

IRENA said that solar and wind power continue to see the greatest growth, together accounting for almost 97% of new renewable capacity installed in 2024. Solar alone accounted for more than three-quarters of the total, with 452 GW of new installed capacity.

More than half of the new solar capacity was added in China, which installed 278 GW. India came second, adding just under 25 GW of solar capacity.

By the end of last year, a total of 1 865 GW of solar capacity and 1 133 GW of wind capacity was in operation worldwide. China and the United States led wind power development.

"The continued growth in renewables that we see every year is proof that these sources are economically viable and can be scaled up easily. They break their own growth records year after year. But we still face challenges, including major regional disparities and a ticking clock, with 2030 just around the corner," said IRENA Director-General Francesco La Camera.

IRENA said this growth was positive, but still insufficient to meet the goal of tripling global installed renewable capacity by 2030. To achieve this, capacity would need to grow by 16.6% year on year from now until 2030.

"Record growth creates jobs, lowers energy bills and cleans our air. Renewables are revitalising economies. But the transition to clean energy must be faster and fairer so that every country has a chance to fully benefit from cheap, clean renewable electricity," added UN Secretary-General António Guterres.