IRENA: Renewables hit record 31.7% of global power in 2024

The International Renewable Energy Agency released its Renewable Energy Statistics 2026 report on Monday, revealing that renewable sources accounted for 31.7% of global electricity generation in 2024, driven by the fastest recorded growth in renewable power output.x+1

Renewable electricity generation grew by 9.8% year-on-year in 2024, the highest rate ever recorded, according to IRENA Director-General Francesco La Camera, who shared the findings on social media. The milestone marks a jump from the 29.9% renewable share recorded in 2023, when renewables generated 8,928 terawatt-hours globally.slideshare+3

Solar Drives the Surge

Solar energy continued to lead the expansion of clean power worldwide. In 2024, renewable power capacity grew by 15.1% to reach 4,448 GW, with solar accounting for more than three-quarters of new additions. Solar capacity alone increased by 32.2% to reach 1,865 GW, while wind energy grew by 11.1%. Together, solar and wind accounted for 96.6% of all net renewable capacity added during the year.e360.yale+3

China remained the dominant force in global renewable deployment, installing more renewable power than all other countries combined and accounting for nearly 64% of new capacity. Asia as a whole was responsible for 72% of new renewable installations.balkangreenenergynews+1

Progress Lags Behind 2030 Targets

Despite the record pace, the report underscores that current growth remains insufficient to meet the COP28 pledge to triple global renewable capacity to over 11,000 GW by 2030. By the end of 2025, total capacity reached 5,149 GW after another record addition of 692 GW, bringing the renewable share of total installed power capacity to 49.4%. Yet the shortfall to the 2030 target stands at more than 6,000 GW, requiring annual additions to roughly double from current levels.emi-bg+1

The report also highlights a contradiction at the heart of the energy transition. China, which accounted for two-thirds of new renewable capacity in 2025, simultaneously added over 100 GW of conventional power capacity, roughly 81% of which was coal-fired. The share of renewables in total new installations actually dipped to 85.6% in 2025, down from 92% the previous year, due to the surge in fossil fuel capacity.irena+1

La Camera framed the trajectory as needing to reach 78% renewable electricity by 2035 — roughly 2.5 times the current share — calling the path from 31.7% a steep but necessary climb.linkedin