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.
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.
Irena Director-General Francesco La Camera said renewables now dominate the global energy system and the transition is irreversible, highlighting record $2.4 trillion energy-transition investment, including $800 billion for production capacity, showing rapidly accelerating investment in renewables and related energy sources.
