The Renewables 2024 report from the International Energy Agency (IEA) shows that global renewable power capacity will increase dramatically throughout the rest of the 2020s. China is the biggest contributor to this capacity increase, with the country set to account for almost 60% of all renewable capacity installed worldwide until 2030. IEA Executive Director Fatih Birol believes this increase is driven in part by the affordability of renewable energy. “This report shows that the growth of renewables, especially solar, will transform electricity systems across the globe this decade,” says Birol. However, the report also emphasises that governments worldwide need to improve their efforts to integrate renewable energy sources into power systems. It also recommends that policymakers explore striking a balance between the costs and benefits of local manufacturing, and considering priorities such as job creation and energy security.
