Global renewable energy capacity has increased 377% over the past 10 years, reaching 4.44 terawatts, driven by falling equipment and installation costs and strong policy support.
The surge in capacity is being highlighted this week as the world marks World REnew Day, an annual event established in 2019 to promote the transition away from fossil fuels and raise awareness of renewable energy's global potential.
According to information compiled by Anadolu, global renewable energy capacity is expected to surpass 11 terawatts by 2035.
Growing awareness of climate change and global warming, combined with lower costs for wind and solar equipment and robust policy incentives, helped boost global renewable capacity from 0.93 terawatts in 2015 to 4.44 terawatts in 2024.
- 675 million people still lack access to electricity
Despite gains, an estimated 675 million people worldwide do not yet have access to electricity, and 2.3 billion people rely on harmful fuels for cooking.
Capacity expansions have made 2024 a turning point in the energy transition.
By the end of last year, hydropower capacity exceeded 1,270 gigawatts. Solar power reached 1,419 gigawatts, while wind power hit 1,017 gigawatts. Biomass and geothermal capacity stood at 171 and 14 gigawatts, respectively.
Still, the pace of change remains insufficient to meet the ambitious goal of tripling renewable capacity by 2030.
Despite the progress seen in 2024, experts caution that current efforts fall short of what's needed to complete the energy transition by 2035.
By Gulsen Cagatay
Anadolu Agency
energy@aa.com.tr