Renewables growing twice as fast as total global electricity generation – IRENA

Facebook
Twitter
LinkedIn
Reddit
Email
IRENA’s Renewable Energy Statistics report for 2025 says that 4.4TW of electricity capacity from renewables was online as of 2024. Image: IRENA.

Renewable electricity generation has grown more than twice as fast as total global electricity generation since 2012, according to the International Renewable Energy Agency (IRENA).

Renewables – led by solar PV and wind generation – have grown by an average of 5.9% annually over the period, while total electricity generation has increased by around 2.5% per year.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

IRENA’s Renewable Energy Statistics report for 2025 says that 4.4TW of electricity capacity (including renewable hydro) from renewables was online as of 2024, 1.07TW of which was installed since 2022. Variable renewables (solar and wind, predominantly) have grown from 1.1% of the global energy mix in 2000 to 44% in 2023, the report says.

This rapid growth of solar PV, in particular, reached new heights in 2024. IRENA said the technology accounted for three-quarters of renewable energy capacity additions last year – 451.9GW, more than half of which was added in China.

In 2024, solar and wind reached 67.5% of total renewable energy capacity, which IRENA said shows “a shift towards these more intermittent energy sources.” Industry commentators have forecast that the solar industry is on the cusp of a “terawatt” era, where annual installations will begin to reach the 1,000GW mark.

IRENA’s statistics over the last decade perhaps speak to the long-term potential and positive trajectory for renewables, in spite of challenges that have made headlines over the last year.

The US government’s anti-renewables swing has brought alarm into the US market and, by virtue of its size, introduced uncertainty elsewhere. Geopolitical tensions, conflict and economic issues have also reared their heads as roadblocks to the energy transition. An October report from Norwegian consultancy DNV said that economic shocks, political shifts and global conflict could be real headwinds towards meeting climate targets and a global energy transition.

Nonetheless, the long-term trend from IRENA’s report shows remarkable growth in renewable energy sources, which will likely see renewables produce a majority of global electricity in a few years.

2030 targets

The COP28 target to triple global renewable energy capacity is still out of reach with current deployment and investment levels, IRENA said.

Despite a 15.1% annual growth rate for renewable energy installations in 2024, the world needs to reach a 16.1% average rate for the rest of the decade to meet the 6.73TW of new capacity the target requires. The current rate would fall 0.9TW short of the goal.

In October 2024, IRENA forecast that solar was the only renewable energy technology on track to meet the required investment levels for global 2030 targets.

Renewable energy additions are also imbalanced across the world. Asia – led by China – dominates additions, followed by Europe, North America and South America. Installations decline massively for Eurasia, Africa, Oceania and the Middle East.

7 October 2025
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 7-8 October 2025 is our third PV CellTech conference dedicated to the U.S. manufacturing sector. The events in 2023 and 2024 were a sell out success and 2025 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
2 December 2025
Málaga, Spain
Understanding PV module supply to the European market in 2026. PV ModuleTech Europe 2025 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.
10 March 2026
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.
16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

Read Next

July 11, 2025
Sabanci Renewables, the North American subsidiary of Turkish conglomerate Sabanci Holdings, is building a 156MWdc solar project in McLennan County, Texas.
July 11, 2025
Indian independent power producer (IPP) Juniper Green Energy has commissioned an additional 71MWp at Chapalgaon Solar Project in Solapur, Maharashtra.
July 11, 2025
The Asia Pacific (APAC) region has accounted for 69% of the 589GW solar PV inverters shipped in 2024, according to a report from analyst Wood Mackenzie.
Premium
July 11, 2025
Analysis: A presidential executive order issued on Monday tightening up project start rules is causing concern among developers.
Premium
July 11, 2025
According to the latest pricing data from the Silicon Industry Branch, released on 9 July, the transaction price range for n-type dense polysilicon has oscillated between RMB34,000-38,000/ton (US$4,741-5,299/ton).
July 11, 2025
The Australian Energy Market Operator (AEMO) has revealed that several utility-scale solar PV power plants experienced curtailment of above 25% in the National Electricity Market (NEM) in 2024.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK