Global renewable energy growth remains uneven despite a 15% rise in 2024, according to the International Renewable Energy Agency (IRENA). The difference in capacity additions highlights the need for targeted efforts to ensure equitable benefits, despite this surge marking a turning point in the transition to clean energy. IRENA emphasizes the urgency of closing the investment gap to achieve sustainable development and meet global climate targets, with Asia leading the way and regions such as Africa lagging.

Regional Disparities in Renewable Growth

Asia accounted for 71% of new renewable energy capacity in 2024, while Europe and North America contributed 12.3% and 7.8%, respectively, to the increase in renewable energy, according to IRENA. Africa, Eurasia, Central America, and the Caribbean, on the other hand, only contributed 2.8% of the world’s capacity.

Africa experienced a 7.2% rise in renewable capacity, despite its enormous potential for economic and developmental growth. This regional disparity highlights a crucial issue: although nations that have made significant contributions to renewable energy are getting advantage from increased energy security, job development, and industrial progress, others run the risk of falling behind. To close this gap and make sure that the green transition promotes fair socioeconomic development globally, IRENA Director General Francesco La Camera emphasized the need for focused policies, global funding, and technological collaborations.

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Accelerating Progress Toward Global Targets

IRENA cautions that the world is not on track to meet the 11.2 TW objective by 2030, which requires an annual growth rate of 16.6%, even with the addition of 582 GW of renewable capacity in 2024. With 453 GW added by solar and 114 GW by wind, solar and wind energy accounted for 97.5% of the new capacity. In 2023, the amount of electricity generated from renewable sources increased by 5.6% to approximately 9,000 TWh, representing nearly 30% of the world’s total power generation.

The advantages of this shift are not shared by everyone, though, as UN Climate Change Executive Secretary Simon Stiell underlined. To reduce emissions, spur economic growth, and ensure affordable, secure energy for everyone, he urged expedited efforts to fulfill the COP28 pledge to quadruple renewable energy by 2030, emphasizing the need for greater investments in vulnerable developing nations.

The Global renewable energy growth remains uneven, and the worldwide transition to renewable energy is accelerating, but resolving regional disparities is essential to its success. To fully realize the potential of renewable energy, governments and international partners must connect investment flows with strong policy frameworks. Along with significant economic and social benefits, including increased resilience and job generation, this change is expected to have a positive impact on the environment. To ensure a sustainable and just future, the emphasis must continue to be on enabling all regions to participate in the renewable energy revolution, as IRENA and world leaders promote inclusive growth.

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