KEY POINTS
- Global renewables added 584 gigawatts in 2024.
- Growth remains below levels needed for 2030 targets.
- Africa’s renewable potential remains largely untapped.
Global renewable energy deployment reached a new high in 2024, with capacity additions accelerating at the fastest pace on record, even as international targets for the end of the decade remain out of reach.
Record growth, rising gaps
Global renewable power capacity rose by a record 584 gigawatts in 2024, lifting total installed capacity to 4,448 gigawatts, according to new data from the International Renewable Energy Agency. The 15.1 percent increase marked the strongest annual expansion on record, driven largely by solar and wind additions across major markets.
Despite the surge, the agency said current growth still falls short of what is required to triple global renewable capacity by 2030. IRENA said meeting that goal will require faster grid expansion, deeper market reforms and a sharp increase in investment to support system planning and resilience. The report also stressed the need for capital to account for climate risks that are already affecting power systems worldwide.
Rising awareness of climate change, energy security and supply chain diversity helped drive the record deployment in 2024. However, IRENA warned that momentum remains insufficient to meet commitments tied to the Paris Agreement.
Africa’s promise, uneven progress
The report highlighted widening regional disparities in renewable deployment. Africa, despite holding some of the world’s strongest solar, wind and hydropower potential, still accounts for only 1.5 percent of global renewable capacity. IRENA said unlocking this potential, particularly through distributed energy systems, could support industrialisation and expand energy access across the continent.
Africa’s transition showed signs of acceleration in 2024. Solar equipment imports rose 60 percent to 15 gigawatts. Battery storage projects, including South Africa’s 153 megawatt Red Sands system, are beginning to shift the region from emergency power cuts toward planned load management.
The report also detailed how climate conditions are reshaping energy systems across Africa. Southern Africa recorded strong positive anomalies for solar capacity factors, ranging from 2 percent to 6 percent, and wind capacity factors between 8 percent and 16 percent. Hydropower output, however, remained below average for a third consecutive year. Energy demand reached record levels in most countries, excluding South Africa.
Eastern Africa benefited from above-average rainfall, boosting hydropower output, while solar and wind performance remained near or below historical averages. Central and Western Africa experienced some of the highest Energy Degree Days anomalies globally, exceeding 20 percent. Limited solar and hydropower capacity left those regions exposed to rising demand.
According to ESI Africa, The World Meteorological Organization and IRENA said renewables are increasingly seen as a buffer against geopolitical instability and volatile fossil fuel markets. Countries are turning to clean energy not only to cut emissions but also to strengthen domestic supply, improve affordability and reduce exposure to future price shocks.
Even with record growth, the agencies warned that the current pace of deployment remains far too slow to deliver a just and resilient energy transition by 2030.
