Renewable capacity statistics 2024

STATISTIQUES DE CAPACITÉRENOUVELABLE 2024 ESTADÍSTICAS DE CAPACIDADRENOVABLE 2024 Copyright © IRENA 2024 Unless otherwise stated, this publication and material featured herein are the property of the International Renewable Energy Agency(IRENA) and are subject to copyright by IRENA. Material in this publication may be freely used, shared, copied, reproduced, printed and/or stored, provided that all such material isclearly attributed to IRENA and bears a notation that it is subject to copyright (© IRENA), with the year of the copyright. Material contained in this publication attributed to third parties may be subject to third party copyright and separate terms of use andrestrictions, including restrictions in relation to any commercial use. ISBN:978-92-9260-587-2 Citation:IRENA (2024),Renewable capacity statistics 2024, International Renewable Energy Agency, Abu Dhabi. About IRENA The International Renewable Energy Agency (IRENA) is an intergovernmental organisation that supports countries in theirtransition to a sustainable energy future, and serves as the principal platform for international co-operation, a centre of excellence,and a repository of policy, technology, resource and financial knowledge on renewable energy. IRENA promotes the widespreadadoption and sustainable use of all forms of renewable energy, including bioenergy, geothermal, hydropower, ocean, solar and windenergy, in the pursuit of sustainable development, energy access, energy security and low-carbon economic growth and prosperity.www.irena.org Acknowledgements Prepared by:Julian Prime, Iman Abdulkadir Ahmed, Dennis Akande, Nazik Elhassan, Gerardo Escamilla, Yury Melnikov and Adrian Whiteman.The authors also gratefully acknowledge all contribution to this dataset, including those from Eurostat, the International Energy Agency, andnational statistical focal points in countries. For further information or to provide feedback, please contact the IRENA Statistics team (statistics@irena.org). Disclaimer This publication and the material featured herein are provided “as is”, for informational purposes. All reasonable precautions have been taken by IRENA to verify the reliability of the material featured in this publication. Neither IRENA nor any of itsofficials, agents, data or other third-party content providers or licensors provides any warranty, including as to the accuracy, completeness, or fitness fora particular purpose or use of such material, or regarding the non-infringement of third-party rights, and they accept no responsibility or liability withregard to the use of this publication and the material featured therein. The information contained herein does not necessarily represent the views of the Members of IRENA, nor is it an endorsement of any project, productor service provider. The designations employed and the presentation of material herein do not imply the expression of any opinion on the part of IRENAconcerning the legal status of any region, country, territory, city or area or of its authorities, or concerning the delimitation of frontiers or boundaries. FOREWORD Highlighting the continued progress achieved in the global energy transition, this latest edition ofIRENA’sRenewable capacity statisticsillustrates the growth of renewables in new installed powergeneration capacity in 2023. By the end of 2023, renewables accounted for 43% of global installed power capacity. Yet, as we drawcloser to a world in which renewable energy accounts for half of total capacity, many energy planningquestions still need to be addressed to establish renewables as the most significant source of electricitygeneration - including in the context of grid flexibility and adaptation to variable renewable power. 2023 saw the largest increase in renewable energy capacity to date – with the addition of 473 gigawatts(GW) of renewables – expanding the stock of renewable power by 13.9%. Renewables accounted for arecord 86% of global power additions, largely due to significant growth in solar and wind power. Solarpower alone accounted for nearly three-quarters of renewable additions, with a record 346 GW, while116 GW of wind energy was added. Despite these unprecedented renewable additions in 2023, the world is still falling short of what isrequired to achieve the goal adopted at COP 28 to triple installed renewable power capacity by 2030to reach 11 TW. With one less year to meet the goal, the world now needs additions of some 1 050 GWeach year for the rest of this decade to keep the world on a 1.5°C pathway in accordance with theWorldEnergy Transitions Outlook1.5°C Scenario. Looking ahead, we hope to see a much faster pace of growth in the stock of renewable power plantsand distributed electricity generation around the world. This report should serve not only as a valuable resource to track progress, but also as a reminder ofthe work that lies ahead to achieve a just, inclusive and sustainable future for all. Francesco La CameraDire