Global renewable capacity installations surged by 25% in 2024 to a record 700 GW, marking the 22nd consecutive year of expansion, according to the IEA’s Global Energy Review. Solar PV additions rose nearly 30% to 550 GW, while wind remained steady at 120 GW. China led the growth, adding 340 GW of solar and 80 GW of wind.
Global energy demand increased by 2.2%, with electricity consumption rising 4.3% due to record heat, industrial demand, transport electrification, and AI expansion. Renewables and nuclear accounted for 80% of new electricity generation, with renewables reaching 32% of total output.
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Source: Renewables Now
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