Last year saw a peak in global installations of renewable energy, with 92.5 percent of newly added electrical capacity originating from solar, wind, or similar sustainable power sources, according to a report by an international organization.
Nearly 64 per cent of the new renewable electricity generated in 2024 was in China, according to Wednesday’s report from the International Renewable Energy Agency (IRENA).
In total, the global capacity for new renewable electrical power increased by 585 billion watts, marking a 15.1 percent rise compared to 2023 figures, wherein 46 percent of the planet’s electricity was generated from solar, wind, and other sustainable non-nuclear energy resources.
World still short of target to triple renewable energy
This significant increase still leaves the global community off course to achieve the international target of increasing renewables threefold between 2023 and 2030. According to calculations made by IRENA, we are projected to fall short by approximately 28 percent.
The objective was established in 2023 as part of global initiatives to mitigate the growing effects of climate change and shift away from fossil fuels including coal, oil, and natural gas.
“
Renewable energy
Is ushering out the era of fossil fuels. The unprecedented expansion is generating employment opportunities, reducing energy costs, and improving air quality,” stated United Nations Secretary-General Antonio Guterres. “However, the transition to renewable energy needs to accelerate and become more equitable.
In 2024, China installed nearly 374 billion watts of renewable energy capacity—three-fourths coming from solar panels—which is over eight times greater than the amount added by the United States and about five times more than what was added in Europe during the previous year.
China currently boasts approximately 887 gigawatts of solar panel capacity, significantly surpassing the 176 gigawatts in the United States, close to 90 gigawatts in Germany, around 21 gigawatts in France, and over 17 gigawatts in the United Kingdom.
The UN climate leader urges Europe to match China’s progress.
The UN climate director, Simon Stiell, presented these statistics on Wednesday to issue a challenge during his address.
Europe
And other industrialized countries to close the gap with China.
“As one administration retreats from climate leadership, it creates an opportunity for others to come forward and embrace the significant advantages,” Stiell told European leaders in Berlin, referring to US President Trump’s actions.
pulling out of the Paris climate accord
.
The shift towards clean energy could serve as Europe’s economic powerhouse today—when novel avenues of growth are crucial for maintaining living standards and will remain so for many years ahead.
Stiell said the IRENA numbers show that the “global renewables boom is unstoppable” and said the market for green energy reached $2 trillion (€1.9 trillion) last year.
Neil Grant, a senior policy analyst at Climate Analytics, stated that the shift towards renewable energy could accelerate further. His organization monitors and forecasts nations’ actions against climate change.
“If renewable energy sources increased by 15 percent in 2024, imagine how significantly quicker their growth could be with robust, trustworthy, and bold global climate policies supporting them everywhere,” stated Grant, who was not involved in the IRENA report.