Record Growth in Global Renewable Energy Capacity: IRENA

A report from the International Renewable Energy Agency (IRENA) revealed that in 2024, renewable energy achieved record growth, accounting for more than 90% of the total global energy capacity expansion. 

According to IRENA’s Renewable Capacity Statistics 2025 report, last year, global renewable capacity reached 4,448 GW, with an increase of 585 GW, representing 92.5% of the total expansion and a record annual growth rate of 15.1%. Francesco La Camera, Director General, IRENA, noted that the continued growth of renewables each year demonstrates that renewable energy is economically viable and easily deployable. “Every year, renewables break their own expansion records, but we continue to face the same challenges of large regional disparities and the countdown to the 2030 goal,” he said.

Solar and wind energy continued to lead during this period, accounting for 96.6% of all new renewable capacity additions in 2024. The report details that photovoltaic solar energy topped the list with an addition of 451.9 GW. Of this total, China contributed 278GW, followed by India, which added 24.5 GW. In the hydropower sector, capacity reached 1,283 GW, with a significant increase driven by China, while countries such as Ethiopia, Indonesia, Nepal, Pakistan, Tanzania, and Vietnam each added more than 0.5GW.

Meanwhile, the expansion of wind energy slowed down slightly, reaching a total of 1,133GW of capacity by the end of 2024. This growth was again dominated by China and the United States. In the bioenergy sector, expansion recovered in 2024, with an increase of 4.6GW. China and France were the main contributors, each adding 1.3GW. Geothermal energy experienced modest growth of 0.4GW, led by New Zealand, followed by Indonesia, Turkey, and the United States. Finally, off-grid energy capacity (excluding Eurasia, Europe, and North America) almost tripled, increasing by 1.7GW to reach a total of 14.3GW. This growth was dominated by off-grid solar energy, which reached 6.3GW in 2024.

Despite the growth observed, the study notes that progress is still below the 11,200GW needed to meet the global target of tripling installed renewable energy capacity by 2030. To achieve this goal, renewable capacity would need to expand at an annual rate of 16.6% through 2030.

Additionally, the report highlights significant geographical disparities. Following the trend of previous years, most of the capacity increase was concentrated in Asia, with China being the largest contributor, accounting for nearly 64% of the global added capacity. In contrast, Central America and the Caribbean were the regions with the smallest contribution, totaling only 3.2%.

António Guterres, Secretary General, United Nations, emphasized that renewable energy is driving the end of the fossil fuel era. “Record-breaking growth is creating jobs, lowering energy bills, and cleaning our air. Renewables renew economies. But the shift to clean energy must be faster and fairer, with all countries given the chance to fully benefit from cheap, clean renewable power,” he stated.

Renewable Energy Outlook in Mexico

According to the 2024-2038 National Electric System Development Program (PRODESEN), the National Electric System (SEN) registered a total electricity generation of 346,504GWh in 2023, of which 24.19% came from clean energy, with the most significant sources being solar, wind, and hydropower. This led Mexico to miss its international commitments under the Paris Agreement, as it had pledged to reach 35% of energy produced from renewable sources by 2024.

In fact, in recent years, Mexico reduced its clean energy generation instead of progressing. In 2021, the country reached 29% in clean energy production within its energy matrix, just 1 percentage point below the 30% clean energy generation target set in the Paris Agreement for that year. This reduction in clean energy generation is mainly due, according to PRODESEN, to a significant decrease in hydropower generation due to droughts in recent years. Moreover, there was a slowdown in private investment for expanding clean energy capacity compared to the previous administration.

President Claudia Sheinbaum has committed to producing 45% of Mexico’s electricity from clean sources by 2030. This goal is part of her list of 100 government commitments for the 2024-2030 term.

Oscar Ocampo, Coordinator of Energy and Environment at the Mexican Institute for Competitiveness (IMCO), stated in an interview with DW that reaching this goal would require investments between MX$45 billion (US$2.2 billion) and MX$50 billion, making it difficult to achieve. However, the expert highlighted that it is an important promise because it sets a roadmap, which, even if not fully achieved, sets a benchmark for the government.