Record-Breaking Renewables Added in 2024—Still Fall Short of Climate Goals

A recent REN21 report confirms solar power fueled 81% of the growth, especially in rooftop installations across emerging economies. Despite these gains, we’re still 6.2 TW short of the renewable installations required to limit warming to 1.5 °C by the end of the decade.

The primary challenges? Policy rollbacks, such as the U.S. formally exiting the Paris Agreement, new fossil fuel exploration in New Zealand, and strained global supply chains due to trade restrictions—are all slowing the transition.

Key Highlights

• 740 GW installed in 2024—an all-time annual record.

• Solar PV led the charge, with rooftop installations driving over 80% of growth.

• Yet, a 6.2 TW shortfall remains to reach the UN’s scaling goal.

• Policy reversals and protective trade barriers are hindering further expansion.

Why This Matters

1. Scale vs Speed: Record-breaking doesn’t guarantee climate success—policy and infrastructure must keep up.

2. Solar's Dominance: The technology is effective, affordable, and scalable—but relies on supportive markets.

3. Geopolitical Drag: National decisions (like pulling from Paris or reopening oil drilling) can heavily impact global targets.

4. Urgent Call to Action: Coordinated planning, grid upgrades, and consistent incentives are essential to bridge the gap.

Source:
Reuters – Full Article