Paris based International Energy Agency (IEA) has reported that renewable electricity is set to expand sharply this decade, with renewables supplying 32% of global power generation in 2024 and projected to reach 43% by 2030. Variable renewable energy (VRE), mainly solar PV and wind, has accounted for 15% of generation in 2024 and is forecast at 28% by the end of the decade. According to the IEA, annual renewable capacity additions have stood at 683 GW in 2024 and are expected to approach 890 GW by 2030 under the main case scenario. Net additions between 2025 and 2030 are projected at nearly 4600 GW, with solar PV and wind contributing 96% of total expansion. Solar PV is anticipated to represent nearly 80% of renewable electricity capacity growth, with distributed PV accounting for 42% of overall PV expansion. The IEA has indicated that higher retail electricity prices and supportive policies are encouraging residential, commercial, and industrial uptake, particularly in markets with grid reliability challenges.