Asia Leads Global Clean Energy Growth, IRENA Report Shows, But Investment Gaps Persist

Asia accounted for more than 70% of new global renewable energy capacity in 2024, according to the latest “Renewable Energy Statistics 2025” report released by the International Renewable Energy Agency (IRENA) on July 10.

The findings reaffirm Asia’s central role in the global energy transition, with over 413 gigawatts (GW) of new renewables installed regionally last year alone.

However, IRENA’s Director-General Francesco La Camera cautioned that this rapid growth is not evenly distributed. “The growing regional divide highlights that not everyone is benefiting equally from this transition,” he said.

By contrast, Africa, Eurasia, Central America, and the Caribbean together accounted for just 2.8% of global renewables capacity additions in 2024. The report calls for expanded climate finance mechanisms and technology transfer to bridge these gaps.

IRENA estimates that a more equitable distribution of clean energy investment is essential to meet the global 2030 renewables capacity target of 11.2 terawatts (TW), which would require a sustained 16.6% annual growth rate from 2025 onward.

The agency noted that countries achieving strong renewables investment are simultaneously boosting their energy security, economic resilience, and employment levels.

For Asia, where electricity demand is climbing in tandem with AI infrastructure deployment, grid modernization and bankable project development remain top priorities.

In 2024, China led global renewables growth with more than 290 GW added, followed by India, Vietnam, and the Philippines. Solar and wind dominated additions, supported by increased interest in utility-scale battery storage and flexible generation assets.

The IRENA report also highlighted the emerging role of digital technologies and AI in optimizing energy systems, including forecasting, load balancing, and asset performance.

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