The year 2024 marked significant advances in the renewable energy sector, setting new records and highlighting the energy transition as a global priority . However, despite the remarkable progress, the target of tripling renewable energy capacity by 2030, essential to limit global warming to 1.5°C, still seems distant. The report by the International Renewable Energy Agency (IRENA) highlights notable achievements and the challenges that still need to be addressed.
Record progress: a solid foundation for the energy transition
By 2023, global renewable energy capacity will reach 3,865 GW, a milestone driven by the addition of 473 GW, of which 86% will come from renewable sources . Asia led this expansion, accounting for 69% of the total, reflecting the region’s leading role in the global energy transition. In addition, 81% of new large-scale installations offered lower costs than fossil fuel-based alternatives, reinforcing the economic appeal of clean energy.
These figures are a positive indicator that renewable generation is becoming the default choice for new energy projects. However, current growth, while impressive, is insufficient: an annual increase of 16.2% would be needed to reach the target of tripling capacity by the end of the decade.
Challenges and solutions to achieve 3xRenewables
Digitalization is emerging as a crucial element to accelerate the energy transition. The adoption of digital technologies and artificial intelligence to manage energy infrastructure can improve the efficiency and resilience of systems , especially in the face of increasing operational complexity.
Furthermore, the Nationally Determined Contributions (NDCs 3.0) planned for 2025 need to align with the global target of tripling renewable energy. However, the IRENA report warns of the significant gap between policy intentions and practical implementation : current plans are only sufficient to deliver half of the growth needed by 2030.
Access the interactive report HERE
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