Renewable Capacity Statistics 2024 - Smart Energy Decisions

Renewable Capacity Statistics 2024

Type: White Paper
Categories: Distributed Generation, Solar, Sourcing Renewables, Wind
Date Published: 4/10/2024
Source: IRENA (International Renewable Energy Agency)
Primary Topic: Sourcing Renewables

Highlighting the continued progress achieved in the global energy transition, this latest edition of IRENA’s Renewable Capacity Statistics illustrates the growth of renewables in new installed power generation capacity in 2023.

By the end of 2023, renewables accounted for 43% of global installed power capacity with the largest increase in renewable energy capacity to date – with the addition of 473 gigawatts (GW) of renewables – expanding the stock of renewable power by 13.9%. Renewables accounted for a record 86% of global power additions, largely due to significant growth in solar and wind power. 

Despite these unprecedented renewable additions in 2023, the world is still falling short of what is required to achieve the goal adopted at COP 28 to triple the installed renewable power capacity by 2030 to reach 11 TW. With one less year to meet the goal, the world now needs additions of some 1 050 GW each year for the rest of this decade to keep the world on a 1.5°C pathway in accordance with the World Energy Transitions Outlook 1.5°C Scenario.

Download the report as a resource to track progress and as a reminder of the work that lies ahead:


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