Renewables generate nearly one-third of global power – report

Renewable electricity generation recorded its fastest growth on record in 2024, cementing clean energy’s position at the centre of the global energy transition as countries accelerate efforts to electrify their economies and reduce dependence on fossil fuels.

New data released by the International Renewable Energy Agency (IRENA) show that renewable electricity generation rose by 9.8 percent last year to 9,836 terawatt hours (TWh), accounting for 31.7 percent of total global power generation.

The expansion sharply outpaced conventional energy sources, with electricity generation from fossil fuels and other non-renewable sources growing by only 1.4 percent over the same period, highlighting the widening gap between clean and conventional power technologies.

The figures highlighted the growing dominance of solar and wind energy in global electricity markets, reinforcing expectations that future energy demand growth will increasingly be met by renewable sources.

“The world is rallying behind electrification as a cornerstone of the energy transition, with renewable electricity as its driving force,” said Francesco La Camera, director-general of IRENA.

According to him, growing support for electrification reflects a global recognition that clean electricity enhances energy security, economic competitiveness and resilience against energy market shocks.

However, IRENA warned that current growth rates remain insufficient to meet long-term climate and energy goals.

The incoming COP31 Presidency of Türkiye has proposed a target for electricity to account for 35 percent of final global energy demand by 2035 under its Action Agenda. Achieving that objective would require the share of global renewable electricity’s power generation to rise from 31.7 percent in 2024 to 78 percent by 2035.

That would mean renewable generation increasing to around two-and-a-half times current levels within the next decade.

“The technologies are available, and the economics are compelling,” La Camera said. “Now we must swiftly shift from fossil fuels to clean electricity across buildings, transport and industry.”

The latest data also strengthen the argument that the transition away from fossil fuels has moved beyond policy ambition to economic reality.

Simon Stiell, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC), described the global energy transition as “irreversible”, pointing to the record growth in renewable generation as evidence that markets are increasingly favouring clean energy technologies.

“Renewable power generation is charging ahead because it is cheaper, safer and faster to deploy,” Stiell said, contrasting the trend with the volatility that has characterised global fossil fuel markets in recent years.

Despite the progress, he cautioned that the pace of deployment remains uneven, particularly in developing economies that continue to struggle with financing constraints and inadequate infrastructure.

He called for the full delivery of climate finance commitments to help vulnerable countries participate more effectively in the energy transition.

Regionally, Asia remained the world’s renewable energy powerhouse, generating 4,589 TWh of renewable electricity in 2024, representing a 14.3 percent increase over the previous year.

The continent accounted for nearly half of global renewable electricity output, with growth driven primarily by rapid expansion in solar and wind generation.

Europe produced 1,758 TWh of renewable electricity, a 7.2 per cent increase year-over-year, driven by strong growth in solar and hydropower generation.

North America generated 1,535 TWh, representing a 5.8 percent increase, while South America produced 1,047 TWh, up 2.9 percent.

Although its overall generation remained relatively small, the Middle East recorded the world’s fastest growth rate at 17.3 percent, producing 76 TWh of renewable electricity as oil-producing economies accelerate diversification efforts.

Africa generated 227 TWh, reflecting annual growth of 5.7 percent across most renewable technologies, while Oceania generated 138 TWh, up 3.4 percent.

The report also highlighted the continuing surge in global renewable energy investments.

Annual renewable capacity additions reached a record 693 gigawatts (GW) in 2025, pushing global installed renewable capacity to 5.2 terawatts (TW).

Renewables now account for 49.5 per cent of the world’s total installed electricity generation capacity, bringing the world closer than ever to parity with fossil fuel-based generation assets.

Clean energy technologies also dominated new power investments last year, accounting for 85.7 percent of all new electricity generation capacity added globally.

Although this represented a decline from the 92.7 percent share recorded in 2024, IRENA noted that renewable deployment continues to outpace non-renewable additions by a significant margin.