Renewables had another record year in 2024 with installations of 585 GW, accounting for 92.5% of the world’s total power expansion, according to the International Renewable Energy Agency (IRENA). Solar PV led with new additions of 451.9 GW, representing a 32.2% year-on-year (YoY) increase, according to IRENA’s Renewable Capacity Statistics 2025.

Together, solar PV and wind accounted for 96.6% of all net renewable energy additions in 2024 as wind energy capacity rose by 11.1%, adding 113 GW. For solar PV, it was China that led the installations at 278 GW.  

With 1,865 GW, solar PV now accounts for over 3/4th of the 4,448 GW global installed renewable energy capacity. In 2023, renewables accounted for 86% of the global power sector additions, including 345.5 GW of solar PV (see IRENA Releases Renewable Capacity Statistics 2024).

Despite 2024 being the year with the largest increase in renewable energy capacity and growth, IRENA points out that regional disparities continue to exist globally. Asia continues to command the lion’s share, with the region reporting 64% of the global renewable energy capacity additions. Central America and the Caribbean contributed the least, with 3.2%.

“Renewable energy is powering down the fossil fuel age. Record-breaking growth is creating jobs, lowering energy bills and cleaning our air. Renewables renew economies. But the shift to clean energy must be faster and fairer – with all countries given the chance to fully benefit from cheap, clean renewable power,” said United Nations Secretary-General António Guterres.  

Even this growth is not bringing the world any closer to the global goal of tripling installed renewable energy capacity to 11.2 TW by 2030 to honor the Paris climate agreement. The world now needs to expand renewables capacity by 16.6% annually until 2030, says IRENA.

The Director General of IRENA Francesco La Camera said, “I call on governments to leverage on the next round of Nationally Determined Contributions (NDCs 3.0) as an opportunity to outline a clear blueprint of their renewable energy ambitions, and on the international community to enhance collaborations in support of the ambitions of Global South’s countries.”