Introduction: A Historic Leap for Renewable Energy
The world witnessed an unprecedented leap in renewable energy deployment in 2024. According to the IRENA Renewable Capacity Highlights 2025 report, global renewable power capacity surged by 585 GW, a remarkable 15.1% year-over-year increase. But while this milestone signals progress, it also highlights how far we still have to go to meet climate goals.
Global Renewable Capacity: A New Benchmark
Image Source: IRENA
By the end of 2024, total global renewable energy capacity reached 4,448 GW, setting a new record. This growth was primarily powered by:
Solar energy: +452 GW (32.2% increase)
Wind energy: +113 GW (11.1% increase)
Together, solar and wind accounted for over 96% of net additions, further establishing them as the backbone of the energy transition.
Regional Insights: Asia Leads, Others Trail
🌏 Asia Takes the Lead
Asia accounted for nearly 72% of the global renewable expansion, adding a staggering 421.5 GW of capacity. China alone was responsible for 373.6 GW, demonstrating its dominance in renewable infrastructure deployment.
🇪🇺 Europe’s Steady Progress
Europe added 70.1 GW, with Germany continuing to be a key driver of growth. This expansion reflects policy-driven support and investment in clean energy.
🇺🇸 North America’s Contributions
North America, led by the United States, added 45.9 GW, contributing meaningfully to the global push, though still trailing behind Asia’s explosive growth.
🌍 Africa, South America, Oceania
While smaller in scale, other regions also showed signs of progress. However, growth remained uneven, especially in developing nations where investment and infrastructure lag.
Sector Breakdown: Solar Still Shines the Brightest
The renewable energy growth in 2024 was largely skewed toward solar PV. With its rapidly declining costs and scalability, solar has become the go-to choice for governments and private sector investors alike.
Key takeaways:
Solar accounted for nearly 77% of all new renewable capacity
The cost of solar power dropped 12%, enhancing its global competitiveness
Grid integration and storage remain ongoing challenges
Are We on Track for 2030?
Not Yet.
Despite this record-setting year, the world is not on track to triple renewable capacity by 2030, a key commitment made at the COP28 climate summit.
📉 The Shortfall
To meet the 2030 goal:
Annual additions must reach 1,100 GW
In 2024, we added only 585 GW
Current policies and national commitments fall 50% short of the necessary trajectory
This gap underscores the urgent need for acceleration and more aggressive action across the globe.
Key Barriers to Growth
Policy Gaps: Many regions lack coherent or long-term renewable energy policies.
Investment Shortfalls: Annual global investment needs to triple to $1.5 trillion to stay on course.
Infrastructure Limitations: Transmission, distribution, and storage systems are not keeping pace.
Geopolitical Risks: Conflicts, trade restrictions, and economic volatility can slow down renewable adoption.
Economic Impact: Jobs and Lower Energy Costs
The renewable energy boom is also generating significant economic benefits:
Global renewable energy jobs rose to 16.2 million in 2023 (up from 3.7 million in the past decade).
The cost of renewable electricity continues to fall, improving accessibility and affordability.
Energy independence is becoming a growing incentive for national governments.
These economic advantages provide a compelling case for continued investment and support.
What Needs to Happen Next?
To stay on track for climate goals, IRENA recommends a multi-pronged approach:
1. Accelerate Deployment
Scale up to 1,100 GW annually
Prioritize regions with high solar and wind potential but low infrastructure
2. Policy Reform
Set clear national targets
Eliminate fossil fuel subsidies
Incentivize green tech and grid modernization
3. Mobilize Capital
Create public-private partnerships
Increase funding for developing countries
Expand green bonds and climate finance
4. Promote Global Cooperation
Share technology and best practices
Support capacity-building programs
Coordinate global supply chains
Spotlight: China’s Role in the Global Transition
China’s dominance in the 2024 data is impossible to ignore. The country:
Installed over 373 GW of renewables in one year
Leads in solar manufacturing and installation
Exerts influence on global supply chains and equipment pricing
As the world’s top emitter, China’s renewable strategy will significantly impact whether the global community reaches its climate milestones.
The Importance of Equity in the Energy Transition
The transition must not only be fast — it needs to be fair.
Developing nations often face:
Lack of access to financing
Technology gaps
Energy poverty
IRENA stresses the need for inclusive energy policies that ensure all regions — particularly the Global South — benefit from the renewable revolution.
Final Thoughts: Turning Momentum into Milestones
The renewable energy sector achieved remarkable gains in 2024, but the road to 2030 remains steep. With only five years left to triple global renewable capacity, the time for incremental change is over.
🌍 It’s now about:
Scaling with speed
Investing with intention
Collaborating across borders
The IRENA 2025 report is both a celebration of progress and a warning of what’s at stake. We have the technology and the economic incentive. What we need now is bold, unified action.
Call to Action (CTA):
💬 What do you think needs to happen for us to meet the 2030 renewable energy targets? Share your thoughts in the comments below!