Renewable energy continued to be the most cost-competitive source of new electricity generation in 2025, with more than 90 per cent of newly added utility-scale renewable capacity proving cheaper than the lowest-cost new fossil fuel alternatives, according to a report by the International Renewable Energy Agency.
Global renewable electricity generation rose 9.8 per cent in 2024, far outpacing the 1.4 per cent growth in non-renewable generation, according to the International Renewable Energy Agency’s (Irena) Renewable Energy Statistics 2026.
Amid geopolitical tensions highlighting fossil fuel risks, leaders at the Global Energy Transition and Electrification Summit in London advanced electrification solutions and launched Electrify Now, with Irena urging focus on electrifying economies, not renewable generation.
According to the International Renewable Energy Agency, solar and wind paired with battery storage provide reliable, cost-effective 24/7 electricity. In prime regions, hybrid renewable systems deliver continuous power at lower costs than fossil fuels.
Abu Dhabi's Al Dhafra Round-The-Clock project by Masdar that combines solar with a massive amount of battery capacity is a global blueprint for the continuous and reliable supply of renewable energy, said the Director-General of the International Renewable Energy Agency (IRENA).
An Irena brief says renewables are improving energy security during the crisis by reducing fossil fuel dependence, with record capacity growth, falling costs, and battery-backed wind and solar delivering cheaper, more resilient 24/7 power.
In 2025, global renewable power capacity reached 5,149 GW with a 692 GW (15.5 per cent) annual increase, accounting for 85.6 per cent of total capacity growth, while non-renewables contributed a smaller share, reports Irena’s Renewable Capacity Statistics 2026.
International Renewable Energy Agency (IRENA) Director-General Francesco La Camera today received the credentials of Saudi Arabia permanent representative to IRENA Abdullah Al-Shehri during a formal ceremony held at IRENA's headquarters in Abu Dhabi.
Global investments in the energy transition reached a new record of $2.4 trillion in 2024, up 20% from the average annual levels of 2022/23. About one-third was directed towards renewable energy technologies, pushing the key sector's investment to $807 billion, said a report.
The world is falling behind on its renewable energy and efficiency goals despite record progress last year, confirms a new report released by the International Renewable Energy Agency (Irena). In 2024, global renewable capacity additions reached an unprecedented 582 GW. Yet this is still not enough to stay on track for the COP28 UAE Consensus target of tripling renewables to 11.2 TW by 2030.
