IEA Reports Surge in Global Renewable Energy

The International Energy Agency's Renewables 2024 report projects a significant increase in global renewable energy capacity, expecting over 5,500 GW to be added between 2024 and 2030, nearly tripling the previous five years' growth. China is anticipated to lead this expansion, contributing nearly 60% of new installations, while India will experience the fastest growth among major economies. Solar photovoltaic technology is forecasted to drive 80% of this increase, with wind also set for substantial growth. Despite hydropower's stable contributions, it is projected to be surpassed by solar and wind generation. The report underscores the importance of government action to meet ambitious climate goals, as global renewable capacity is set to provide nearly half of electricity demand by 2030. Infrastructure investment in regions like Namibia is highlighted as crucial for harnessing energy resources and promoting socio-economic development.