Renewable Energy Hits Record Growth Globally

The International Renewable Energy Agency (IRENA) reported that renewable electricity generation increased by 9.8% in 2024, surpassing the growth seen in 2023. Non-renewable sources only grew by 1.4% during the same period, bringing the total share of renewables in global electricity generation to 31.7%, or 9836 terawatt hours.

Asia led renewable electricity production with 4589 terawatt hours, followed by Europe at 1758 terawatt hours. The incoming COP31 Presidency of Türkiye announced a goal to increase global electrification to 35% of final energy demand by 2035, which would require renewables to supply 78% of global electricity by that year.

IRENA notes that while technologies and economics support this rapid expansion, a swift transition away from fossil fuels is necessary. The UNFCCC highlighted the need for financial support for vulnerable nations to ensure an inclusive energy transition, despite the progress made.