In 2024, global renewable energy installations soared to record levels, with solar and wind sources comprising 92.5% of new electricity generation, largely driven by China. Despite significant growth, the world is projected to fall short of tripling renewable energy by 2030. UN officials emphasize the need for accelerated action to mitigate climate change and enhance economic potential through clean energy.
The International Renewable Energy Agency (IRENA) has announced that global renewable energy installations reached unprecedented levels last year, with solar and wind sources accounting for an impressive 92.5% of new electricity generation. In 2024, approximately 64% of this growth occurred in China, which alone contributed 374 billion watts, with three-quarters arising from solar energy. Globally, renewable electricity capacity surged by 585 billion watts, marking a significant 15.1% increase from the previous year.
Despite this substantial progress, the IRENA report reveals that the world is falling behind its target of tripling renewable energy output by 2030, as it is projected to miss the goal by 28%. This ambition was established in response to heightened climate change challenges and a collective international effort to move away from fossil fuels.
United Nations Secretary-General Antonio Guterres emphasized the need for an accelerated and equitable transition to clean energy. He noted, “Renewable energy is powering down the fossil fuel age. Record-breaking growth is creating jobs, lowering energy bills and cleaning our air.”
China’s dominance in renewable energy is underscored by its total capacity of nearly 887 billion watts of solar power, vastly exceeding figures from the United States, Europe, and other regions. Furthermore, UN climate chief Simon Stiell urged industrialized countries to enhance their contributions to renewable energy as he referenced the absence of climate leadership from the United States under former President Trump.
The IRENA findings indicate that the global push for renewable energy is irrevocable, with the market achieving a staggering valuation of $2 trillion. Neil Grant from Climate Analytics expressed optimism about the potential for even greater growth, citing that with supportive climate policies, the transition to renewables could accelerate significantly.
The surge in renewable energy installations highlights a pivotal moment in global efforts to combat climate change, with China emerging as a leader in the sector. While significant achievements have been made, the world must intensify its efforts to meet the ambitious targets set for 2030. Joint cooperation among industrialized nations is essential to accelerate the transition to renewable energy and capture the associated economic benefits, ensuring a cleaner and more sustainable future.
Original Source: apnews.com
