Renewable Capacity Statistics 2024 released by the International Renewable Energy Agency (IRENA) today shows that 2023 set a new record in renewables deployment in the power sector by reaching a total capacity of 3 870 Gigawatts (GW) globally. Renewables accounted for 86% of capacity additions; however, this growth is unevenly distributed across the world, indicating a trend far from the tripling renewable power target by 2030.
The 473 GW of renewables expansion was led once again by Asia with a 69% share (326 GW). This growth was driven by China, whose capacity increased by 63%, reaching 297.6 GW. This reflects a glaring gap with other regions, leaving a vast majority of developing countries behind, despite massive economic and development needs. Even though Africa has seen some growth, it paled in comparison with an increase of 4.6%, reaching a total capacity of 62 GW.
