Guess which country will account for 60% of RE additions until 2030

That will be over half of 5,500 GW.

China is truly a major player when it comes to renewable energy as it is expected to account for almost 60% of the total clean energy to be added globally between 2024 and 2030.

“That would make China home to almost half of the world’s total renewable power capacity by the end of this decade, up from a share of a third in 2010,” the International Energy Agency (IEA) said in its Renewables 2024 report.

Whilst Beijing is adding the biggest volumes, India is growing the fastest amongst major economies, the report said.

Overall, the world is projected to add 5,500 gigawatts (GW) of renewable energy between 2024 and 2030. This is almost three times the expansion between 2017 and 2023.

Solar photovoltaic will account for 80% of renewable growth by 2030, with wind also expanding rapidly."

IEA said nearly 70 countries are on track to meet or exceed their 2030 renewable targets. However, “the growth is not fully in line with the goal set by nearly 200 governments at the COP28 climate change conference in December 2023 to triple the world’s renewable capacity this decade.”

The report noted that meeting the tripling target is still possible if governments take near-term opportunities for action. 

“This includes outlining bold plans in the next round of Nationally Determined Contributions under the Paris Agreement due next year, and bolstering international cooperation on bringing down high financing costs in emerging and developing economies, which are restraining renewables’ growth in high-potential regions such as Africa and Southeast Asia,” IEA said.