Renewable energy, record growth in 2024. But more can and must be done
Energy — di Andrea Barolini
The annual report by the Irena agency indicates that 92.5 per cent of new installations built in 2024 are linked to renewable sources.
Renewable energy, record growth in 2024. But more can and must be done
The annual report by the Irena agency indicates that 92.5 per cent of new installations built in 2024 are linked to renewable sources.
92.5 per cent of new electricity generation plants built during 2024 are linked to renewable sources. This is according to a new report by Irena, the International Renewable Energy Agency, published at the end of last March. According to the report, in the vast majority of cases (97 per cent of that 92.5 per cent) these are solar or wind farms, with the former prevailing over the latter.
In 2024, #Renewables accounted for a record-breaking 92.5% of new power capacity—up from 85.8% in 2023. Despite this momentum, we are still falling short of the #3xRenewables target set at #COP28. See IRENA's latest report for more insights: bit.ly/43wt1eh
Tripling installed capacity requires even more significant growth
The document specifies that the overall capacity of clean sources reached 4,448 gigawatts worldwide in 2024, compared to 3,968 gigawatts in 2023, thanks to an increase of 585 gigawatts (roughly double the increase of 292 gigawatts recorded between 2022 and 2023). The annual growth rate therefore stood at 15.1 per cent. Nevertheless, Irena notes that "progress is still insufficient if we are to align with the goal of tripling installed capacity by 2030." To achieve this, 11.3 terawatts must be reached: consequently, annual growth would need to be 16.6 per cent.
Strong geographical differences also persist. Growth in renewables has been driven largely by Asia, and in particular China, which contributed as much as 64 per cent of the total. At the bottom of the rankings are Central America and the Caribbean, which reached only 3.2 per cent. The remaining share refers to North America and Europe. Irena further notes that G7 and G20 countries accounted for 14.3 and 90.3 per cent of overall growth respectively.
Too many geographical disparities: 64 per cent of growth in Asia
The data, in any case, appear positive at least in general terms: "The continued growth of renewables," commented the agency's director-general, Francesco La Camera, "is proof that these sources are economically sustainable and readily deployable. Every year, new capacity records are achieved, despite major regional disparities and the looming 2030 deadline. Today, economic competitiveness and energy security are increasingly among the primary concerns worldwide. Therefore, rapidly expanding renewable energy capacity means seizing commercial opportunities and ensuring security in a swift and sustainable manner."
📢#Renewables capacity broke its record again in 2024 with 15.1% annual growth rate, adding 585 GW. But to meet #3xRenewables, it must grow by 16.6% per year till 2030. NEW @IRENA report is a reminder for governments to raise their renewables ambitions through #NDC 3.0. Read:
According to United Nations Secretary-General António Guterres, renewables "are closing the era of fossil fuels. This record growth creates jobs, lowers bills and purifies our air. Renewable sources benefit economies. But the transition to clean energy must be faster and fairer: all countries must have the opportunity to fully benefit from these low-cost technologies."
The clean energy boom keeps breaking records as @IRENA data shows.
In 2024:
✅ 90% of new power additions were renewables.
✅ Renewables grew by 15%, mainly solar.
Bringing huge benefits: New jobs, global competitiveness, and higher living standards.
👉 bit.ly/3QKsKN8
In 2024:
✅ 90% of new power additions were renewables.
✅ Renewables grew by 15%, mainly solar.
Bringing huge benefits: New jobs, global competitiveness, and higher living standards.
👉 bit.ly/3QKsKN8
Irena calls for a renewables strategy within emissions reduction pledges
It is in this spirit that Irena has issued an appeal to governments around the world, urging that a comprehensive strategy for increasing installed renewable capacity be included in the new emissions reduction pledges on greenhouse gases requested by the United Nations (the so-called Nationally Determined Contributions https://www.climatewatchdata.org/ndc-tracker, also known by the acronym NDCs).