Climate Facts: Renewable energy accounted for 92% global power growth in 2024, says IRENA

The complexities of climate change and its associated jargon can prove difficult to digest.

TheCable’s quick climate facts will help demystify these concepts through easy-to-understand and straight-to-the-point explanations.

Here are some to keep at the tip of your fingers:

• The International Renewable Energy Agency (IRENA) says renewable energy capacity in 2024 reached a new record of 4,448 gigawatts (GW).

• IRENA said the 585 GW increase in 2024 indicates a 92.5 percent share of the total capacity expansion, and a 15.1 percent record rate of annual growth.

• The organisation said although 2024 marks another benchmark in renewable energy capacity and growth, progress still falls short of the 11.2 terawatts needed to align with the global goal to triple installed renewable energy capacity by 2030.

• The Inter-governmental Panel on Climate Change (IPCC) says tracked financial flows fall short of the levels needed for adaptation and to achieve mitigation goals across all sectors and regions.

• IPCC said the scaling up of public grants for mitigation and adaptation funding for vulnerable regions, especially in sub-Saharan Africa, would be cost-effective and have high social returns in terms of access to basic energy.