ISLMABAD, March 27: The world’s renewable energy capacity experienced significant growth in 2024, reaching 4,448 gigawatts (GW), with solar energy leading the expansion, contributing 1,865GW.
According to the Renewable Capacity Statistics 2025 report by the International Renewable Energy Agency (IRENA), the global addition of 585GW in 2024 accounted for an impressive 92.5% of total power capacity expansion, marking a record 15.1% annual growth rate.
Renewable Expansion and Future Targets
Despite the remarkable progress, renewable energy deployment remains short of the 11.2 terawatts (TW) required to meet the global goal of tripling installed renewable capacity by 2030.
To stay on track, capacity expansion must increase by 16.6% annually until 2030.
Asia Leads Solar Growth
Asia has more than doubled its installed solar capacity since 2022, adding 247.9GW in 2023 and 327.1GW in 2024.
The largest capacity increases were recorded in:
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China: +278.0GW (dominant contributor)
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India: +24.5GW
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South Korea: +3.1GW (notable rise from previous years)
While China and the United States accounted for most of the expansion, many other countries also saw increased renewable capacity growth in 2024 compared to 2023.
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Renewables’ Share in Global Capacity
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The renewable share in total power capacity expansion jumped from 85.8% in 2023 to 92.5% in 2024.
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The total installed renewable power share rose from 43.1% in 2023 to 46.4% in 2024, highlighting a declining reliance on non-renewable energy sources.
This shift is partly attributed to net decommissioning of fossil fuel-based capacity in various regions. However, to meet the COP28 commitment of tripling renewable power capacity by 2030, accelerated efforts are still required.
Hydropower Rebounds
Hydropower saw a 15GW increase in capacity, rebounding from its 11.3GW low in 2023.
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China accounted for 96% of this growth.
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Other nations with increases exceeding 0.5GW include Pakistan, Ethiopia, Vietnam, Tanzania, Indonesia, and Nepal.
The continued rapid expansion of renewables underscores a global shift toward clean energy, but faster deployment is necessary to achieve climate targets.
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With solar energy leading the charge and hydropower rebounding, global energy systems are increasingly transitioning toward sustainable sources, though policy support and infrastructure development will be crucial for meeting 2030 goals.
