Shaping The Future: Insights From IRENA’s 2024 Renewable Energy Statistics Report

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Representational image. Credit: Canva

The “Renewable Energy Statistics 2024” report by the International Renewable Energy Agency (IRENA) provides a comprehensive overview of the current state and trends in renewable energy worldwide. This report covers various aspects of renewable energy, including data on production, consumption, capacity, and investment across different regions and countries. It also highlights the contributions of renewable energy to achieving sustainable development goals, particularly those related to energy access, security, and low-carbon economic growth.

IRENA is an intergovernmental organization dedicated to supporting countries in their transition to sustainable energy. It serves as a platform for international cooperation, a center of excellence, and a repository of knowledge on renewable energy policies, technologies, resources, and finances. The organization’s mission includes promoting the widespread adoption and sustainable use of all forms of renewable energy, including bioenergy, geothermal, hydropower, ocean, solar, and wind energy.

The report features detailed statistics on renewable energy balances for various countries, divided into sections covering different groups of nations. These statistics provide insights into the energy production, transformation, and consumption patterns in each country, highlighting the role of renewables in their energy mix. Additionally, the report includes data on public renewable energy finance flows, showing how financial resources are allocated to support renewable energy projects.

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One of the key components of the report is the data on renewable energy capacities and production. This includes information on the installed capacities and generation of electricity from different renewable sources such as hydropower, wind energy, solar energy, bioenergy, and geothermal energy. The data indicates the growth trends in these sectors and provides a basis for understanding the progress made towards increasing the share of renewables in the global energy mix.

The report also addresses the off-grid renewable energy capacities, which are crucial for providing energy access in remote and rural areas. This section includes data on off-grid hydropower, solar photovoltaic systems, and other off-grid renewable energy technologies. The information helps to understand the impact of these technologies on improving energy access and supporting sustainable development in underserved regions.

In addition to technical data, the report includes indicators related to the sustainable development goals (SDGs). Specifically, it provides statistics on SDG indicators 7.a.1 and 7.b.1, which are related to international financial flows to developing countries in support of clean energy and the expansion of infrastructure and technology for modern energy services, respectively. These indicators help track progress towards achieving universal access to affordable, reliable, sustainable, and modern energy.

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Overall, the “Renewable Energy Statistics 2024” report is a valuable resource for policymakers, researchers, and stakeholders in the renewable energy sector. It offers a detailed and up-to-date overview of the global renewable energy landscape, highlighting the progress made and the challenges that remain. By providing comprehensive data and analysis, the report supports informed decision-making and helps to drive the transition towards a more sustainable and resilient energy future.

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