Abu Dhabi-based International Renewable Energy Agency (IRENA) has reported that the renewable energy capacity in 2024 grew by 582 GW globally, a 15% increase over the previous year. However, the growth was not balanced. Asia alone accounted for 71% of added capacity. In contrast, Africa, Eurasia, Central America, and the Caribbean have collectively accounted for just 2.8% of the additions. Africa’s growth was limited to 7.2%, even though the continent has vast untapped renewable potential. Solar has led the additions with 453 GW, followed by wind at 114 GW, together accounted for 97.5% of the net increase. For 2023, IRENA has reported that 8,928 TWh of renewable power was produced globally, accounting for a 5.6% rise YoY. Renewables currently represent 46.2% of global installed capacity, just short of the 47.3% of fossil fuels. IRENA has cautioned that the present rate of growth is not expected to achieve the COP28 objective of achieving 11.2 TW by 2030.
IRENA data reveals widening gap in green energy rollout
Asia accounted for 71% of 2024’s renewable capacity growth while Africa, Central America, and Eurasia together contributed only 2.8%, said IRENA.
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