Global renewable energy capacity climbed to a record 5.15 terawatts (TW) in 2025, but the pace of new installations will need to nearly double over the next five years for the world to achieve its 2030 target, according to a new international assessment.
The world added approximately 693 gigawatts (GW) of renewable energy capacity in 2025, marking a new annual record. However, deployment would need to average about 1,200 GW per year from 2026 through 2030 to reach the 11.2 TW target established under the UAE Consensus at COP28.
The assessment was released by the International Renewable Energy Agency (IRENA), together with the COP31 Presidency of Türkiye and the Global Renewables Alliance, during Climate Week NYC.
Energy Efficiency Also Falling Behind
The report found that progress on energy efficiency remains below the level required to meet international targets.
Global energy intensity improved by roughly 2% in 2025, only half of the 4% annual improvement needed to achieve the UAE Consensus goal of doubling the global rate of energy-efficiency gains by 2030.
IRENA identified investment, electricity grids and electrification among the key areas that will determine whether countries can accelerate the clean energy transition.
Investment in electricity grids and system flexibility is expected to reach nearly $1 trillion annually between 2026 and 2030, more than twice the level recorded in 2025.
Storage and Flexible Power Gain Importance
The growing share of solar and wind generation is also increasing demand for battery storage and other technologies capable of balancing electricity supply and demand.
IRENA said faster deployment of battery storage, efficient electrical technologies and other flexibility solutions will be necessary as electricity consumption continues to increase.
Renewable energy systems combining solar, wind and storage are expected to become increasingly important for delivering clean electricity around the clock. Digitalisation and artificial intelligence could also help utilities better align electricity demand with renewable power generation.
Battery storage economics have improved significantly. Storage costs declined by 30% between 2024 and 2025 and have fallen by 95% since 2010.
The report also found that approximately one-quarter of utility-scale solar capacity commissioned globally in 2025 was combined with storage, supporting systems designed to provide renewable electricity throughout the day.
Solar and Wind Set to Reshape Global Power Capacity
Solar and wind are expected to play an increasingly dominant role in the global electricity system.
According to the assessment, variable renewable energy capacity is projected to exceed total fossil-fuel generation capacity by 2030 and represent about 62% of global installed power capacity, compared with 35% in 2025.
The expansion is also expected to increase the importance of electrification as countries seek to improve energy efficiency and reduce fossil-fuel consumption.
IRENA said greater electrification will be critical to achieving the UAE Consensus target for energy-efficiency improvements by 2030.
Beyond 2030, further progress will be needed to raise electricity’s share of global final energy consumption to 35% by 2035. That target is currently being discussed as part of the COP31 agenda.
IRENA Calls for Faster Energy Transition
IRENA Director General Francesco La Camera said the 2030 renewable energy target remains achievable but warned that progress on energy efficiency is not keeping pace while electricity demand is increasing faster than anticipated.
The agency’s updated roadmap calls for faster electrification alongside a rapid expansion and modernisation of renewable generation, electricity grids, energy storage and other flexibility technologies.
United Nations Secretary-General António Guterres also urged governments to address bottlenecks slowing the energy transition, increase investment in developing economies and reduce reliance on fossil fuels.
Chris Bowen, Australia’s Minister for Climate Change and Energy and President of Negotiations for COP31, said additional investment would be needed across electrification infrastructure, including modern electricity grids, energy storage and reliable clean power.
Bowen said Australia was working with Türkiye to place electrification at the centre of the COP31 agenda.
The latest assessment represents the third review of global progress toward the renewable energy and energy-efficiency objectives established under the UAE Consensus at COP28. The findings come ahead of COP31, which is scheduled to take place in Antalya, Türkiye.
