Renewable energy accounted for a record 92.5% of all new power generation capacity added worldwide in 2024, according to the International Renewable Energy Agency (IRENA). The data signals the strongest shift yet toward clean energy sources as countries accelerate the transition away from fossil fuels.
Out of 510 gigawatts (GW) of new global power capacity added last year, 473 GW came from renewable sources. That marks a 13.9% increase in renewable additions compared to 2023. Solar power led the surge, representing 73% of all new renewable capacity — roughly 345 GW — followed by wind, which contributed around 113 GW or 24%.
Asia remained the dominant force in global renewable growth, adding 326 GW of new capacity, of which 297 GW was renewable. Europe followed with 71 GW in total additions (65 GW renewable), and North America added 34 GW, nearly all of it renewable.
Total installed renewable capacity worldwide has now reached 3,870 GW, accounting for 43% of the world’s electricity generation capacity. While that represents significant progress, fossil fuels still supply most of the electricity consumed globally due to the scale of existing infrastructure.
Despite the progress, there are some challenges. Recent announcements from the US President indicate that he is not in favour of renewables and he has talked about a renewed focus on oil and what he has termed “clean coal.”
As well, despite the progress made on renewables, where its clear that China has taken the leadership role from the US, accounting for almost 64% of new capacity added, the downside is that the world needs to reach 11,200 GW (11.2 TW) of power capacity from renewables by 2030 in order to meet global climate goals. To reach that requires at least 16.6% annual growth versus the roughly 13% this year.
