Global Renewable Energy Capacity Reaches Record High in 2024

Global renewable energy installation reached a record high in 2024, with 92.5% of new electricity capacity derived from clean sources, according to the International Renewable Energy Agency (IRENA). China dominated this growth, contributing nearly 64% of the new capacity, which amounted to 374 billion watts, primarily from solar panels. Despite this surge, the world is projected to be 28% short of the goal to triple renewable energy capacity by 2030, underscoring the need for a faster transition away from fossil fuels. UN Secretary-General Antonio Guterres emphasized the importance of accelerating the clean energy shift to ensure job creation and environmental benefits. IRENA's report indicates that solar and wind power accounted for 96.6% of the new additions, highlighting the potential economic and energy security opportunities in expanding renewables. The report also challenges industrialized nations, particularly in Europe, to enhance their renewable energy efforts in light of China's leadership in this sector.