A record amount of renewable energy capacity was installed worldwide last year, signaling accelerating momentum in the global clean energy transition. However, countries remain off track to meet the ambitious U.N. goal of tripling renewable energy capacity by 2030, according to a new report released Tuesday.
The joint report—produced by the International Renewable Energy Agency (IRENA), the Global Renewables Alliance, and the COP30 Brazilian Presidency—tracks progress toward the target agreed upon by more than 100 countries at the COP28 climate summit in Dubai in 2023. The findings come just weeks before global leaders gather in Brazil for this year’s COP climate talks.
In 2024, the world added a record 582 gigawatts (GW) of renewable energy capacity, marking a 15.1% increase over the previous year. The surge reflects significant growth in solar, wind, and hydro projects across key markets, including China, the United States, and the European Union.
Despite this historic expansion, the report warns that current momentum is not enough. To meet the 2030 goal, the world must sustain an annual growth rate of at least 16.6% from 2025 through the end of the decade—a level that will require stronger policy frameworks, greater investment, and faster grid modernization.
“Record growth in renewables shows that the energy transition is accelerating, but we are not yet moving fast enough,” the report stated. “Bridging the gap will require coordinated international action and targeted support for developing economies.”
As the world turns its focus to the upcoming COP30 summit in Brazil, the findings are expected to shape negotiations around scaling up financing, technology transfer, and renewable infrastructure to keep global climate goals within reach.
