SUBSCRIBE
PROFILE

China alone accounts for 64% of global renewable capacity added in 2024

IRENA’s annual report shows record renewable energy growth in 2024, concentrated in Asia and led by solar, but still falling short of 2030 targets.

Share:

Gain full professional access to energynews.pro from 4.90$/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90$/month*

No commitment – cancel anytime, activation in 2 minutes.

START NOW — 4.90$/month

*Special launch offer: 1st month at the indicated price, then 14.90 $/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99$/year*

To access all of energynews.pro without any limits

SUBSCRIBE — 99$/year

*Introductory annual price for year one, automatically renewed at 149.00 $/year from the second year.

Sign up for free to unlock this article

Global renewable energy production capacity reached 4,448 gigawatts (GW) at the end of 2024, marking an annual increase of 585 GW, according to data published by the International Renewable Energy Agency (IRENA). This growth accounted for 92.5% of all newly installed electrical capacity worldwide and represents an unprecedented annual growth rate of 15.1%.

Geographical concentration of expansion

Asia absorbed the majority of investments, with China leading. It contributed 64% of the added capacity in 2024, reinforcing its position in the solar and wind segments. In contrast, regions such as Central America and the Caribbean accounted for only 3.2% of global additions. G20 countries represented more than 90% of new capacity, underscoring persistent disparities in the deployment of energy infrastructure.

Dominance of solar energy

Solar energy represented more than three-quarters of new installations, with an annual increase of 451.9 GW. China alone contributed 278 GW. India was also among the top contributors with an additional 24.5 GW. Wind energy grew by 11.1%, reaching a total capacity of 1,133 GW, driven largely by China and the United States.

Limited source diversification

Hydropower energy, excluding pumped storage systems, rebounded to 1,283 GW, supported by new projects in Ethiopia, Pakistan, Nepal and Vietnam. Biomass energy rose by 4.6 GW, compared to 3.0 GW in 2023, with significant contributions from France and China. Geothermal energy grew by 0.4 GW, with capacity expansions in New Zealand and Türkiye.

Gap with international targets

Despite this growth, a significant gap remains to reach the 11.2 terawatts required by 2030 under global commitments. Annual growth now needs to exceed 16.6% to align national trajectories with targets set at climate summits. IRENA has called for a revision of the Nationally Determined Contributions (NDC 3.0) to include more structured capacity goals.

IRENA Director-General Francesco La Camera stressed the need to integrate these ambitions into national energy policies, highlighting the risks linked to geographical concentration and structural imbalances across markets. The Agency has continued working with member states to adapt national energy roadmaps within the NDC framework.

  • Popular on energynews.pro
GVH and Samsung C&T seal global alliance for BWRX-300 reactors
Iberdrola adds 708 MW of solar capacity to joint venture with Norges Bank
EDF power solutions and El Paso Electric launch 150 MW solar facility in New Mexico
United Kingdom opens public consultation on Rolls-Royce modular reactor
Denmark strengthens maritime controls at Skagen Strait amid Russian shadow fleet activity
Global renewable capacity set to double by 2030, led by solar power
According to the International Energy Agency (IEA), global renewable power capacity could more than double by 2030, driven by the rise of solar photovoltaics despite supply chain pressures and evolving policy frameworks.
Algeria commits $60 billion to strengthen its energy strategy by 2029
Algeria plans to allocate $60 billion to energy projects by 2029, primarily targeting upstream oil and gas, while developing petrochemicals, renewables and unconventional resources.
China’s clean tech exports reach $20bn in August
China set a record for clean technology exports in August, driven by surging sales of electric vehicles and batteries, with more than half of the growth coming from non-OECD markets.
Ukrainian strike cuts power to 5,400 homes in Belgorod region
A night-time attack on Belgorod’s power grid left thousands without electricity, according to Russian local authorities, despite partial service restoration the following morning.
French Academy of Sciences warns of economic risks linked to solar geoengineering
The French Academy of Sciences calls for a global ban on solar radiation modification, citing major risks to climate stability and the world economy.
Federal shutdown threatens permit delays and energy projects in the United States
The halt of US federal services disrupts the entire decision-making chain for energy and mining projects, with growing risks of administrative delays and missing critical data.
US energy agencies prepare to suspend operations amid budget deadlock
Facing a potential federal government shutdown, multiple US energy agencies are preparing to suspend services and furlough thousands of employees.
EMBER: Chile could save $15mn annually by reducing renewable energy losses
A report reveals the economic impact of renewable energy losses in Chile, indicating that a 1% drop in curtailments could generate $15mn in annual savings.
Denmark increases energy security after unidentified drone flyovers
Faced with growing threats to its infrastructure, Denmark raises its energy alert level in response to a series of unidentified drone flyovers and ongoing geopolitical tensions.
France: Lecornu rules out a freeze on solar and wind power
The Prime Minister dismissed rumours of a moratorium on renewables, as the upcoming energy roadmap triggers tensions within the sector.
Kuwait adds 14 GW of power capacity by 2031 to avoid shortages
Kuwait plans to develop 14.05 GW of new power capacity by 2031 to meet growing demand and reduce scheduled outages, driven by extreme temperatures and maintenance delays.
Ignite Power joins the $270 million Pro Energia+ programme in Mozambique
The partnership with the World Bank-funded Pro Energia+ programme aims to expand electricity access in Mozambique by targeting rural communities through a results-based financing mechanism.
Brussels imposes a new fee system for monitoring energy markets
The European Commission strengthens ACER’s funding through a new fee structure applied to reporting entities, aimed at supporting increased surveillance of wholesale energy market transactions.
EDF faces €460bn investment programme as Court of Auditors warns the state
France’s Court of Auditors is urging clarity on EDF’s financing structure, as the public utility confronts a €460bn investment programme through 2040 to support its new nuclear reactor rollout.
Washington to return $13bn in unobligated energy transition funds
The U.S. Department of Energy will return more than $13bn in unspent funds originally allocated to climate initiatives, in line with the Trump administration’s new budget policy.
Trump threatens IEA with withdrawal if anti-oil stance is not revised
Under pressure from Washington, the International Energy Agency reintroduces a pro-fossil scenario in its report, marking a shift in its direction amid rising tensions with the Trump administration.
Southeast Asia’s power demand drives massive integration of solar and wind
Southeast Asia, facing rapid electricity consumption growth, could tap up to 20 terawatts of solar and wind potential to strengthen energy security.
France: Emmanuelle Wargon takes the helm of ACER’s Board of Regulators
The President of the Energy Regulatory Commission was elected to the presidency of the Board of Regulators of the Agency for the Cooperation of Energy Regulators for a two-and-a-half-year term.
Australia sets emissions reduction target of 62 to 70% by 2035
The Australian government has announced a new climate target backed by a funding plan, while maintaining its position as a major coal exporter, raising questions about its long-term energy strategy.
India secures a 15-year contract with the Seabed Authority
New 15-year agreement for the exploration of polymetallic sulphides in the Indian Ocean, making India the first country with two licences and the largest allocated perimeter for these deposits.