Global renewable energy installations reached a record high in 2024, with 92.5% of new electricity from clean sources, largely driven by China’s achievements in solar energy. However, the world remains on track to miss its 2030 targets for renewable energy expansion. Key leaders emphasize the need for faster transition and policy support to maximize the benefits of renewable energy growth.
In 2024, global renewable energy installations achieved a record high, with 92.5% of all new electricity generated from solar, wind, and other clean sources. The International Renewable Energy Agency (IRENA) reported that China accounted for nearly 64% of the new renewable electricity capacity. The world successfully added 585 billion watts of renewable energy, marking a significant 15.1% increase from 2023, resulting in 46% of the total electricity deriving from renewable sources.
Despite this impressive growth, the current trajectory will not meet the international objective of tripling renewable energy capacity by 2030, as the world is projected to fall 28% short of this goal. This target was set in response to the urgent need to mitigate climate change and lessen reliance on fossil fuels such as coal, oil, and natural gas.
United Nations Secretary-General Antonio Guterres emphasized the significance of renewable energy in transitioning from fossil fuels, stating that this growth is beneficial for job creation, reducing energy costs, and improving air quality. However, he underscored that the transition must be accelerated and equitable to maximize its benefits.
China led the renewable energy sector by adding approximately 374 billion watts, predominantly from solar panels, far surpassing both the U.S. and Europe. As a result, China now possesses nearly 887 billion watts of solar capacity, outpacing other countries significantly.
UN climate chief Simon Stiell encouraged Europe and other industrial nations to enhance their climate leadership in light of these developments. He pointed out that the clean energy transition presents a valuable opportunity for economic growth and sustainability. Stiell noted the remarkable $2 trillion market for renewable energy, highlighting its unstoppable momentum.
Neil Grant, a senior policy analyst at Climate Analytics, remarked on the potential for even faster growth in renewable energy, advocating for more robust climate policies to support this transition. Grant indicated that the 15% growth seen in 2024 could be a stepping stone towards an even quicker shift to renewables, provided adequate policy frameworks are established.
The record growth in renewable energy installation represents a significant step towards combating climate change, although current progress falls short of international goals. With China leading the charge in solar energy capacity, the challenge is now for other nations to elevate their climate actions. Accelerated efforts and comprehensive policies are crucial to achieve greater advancements in the renewable energy sector, potentially transforming economies and industries worldwide.
Original Source: apnews.com
