Special Correspondent, New York - The world needs to add an average of 1,200 GW of renewable power capacity each year from 2026 to 2030 to meet the global target of 11.2 TW by 2030, according to the International Renewable Energy Agency (IRENA).
IRENA said global renewable capacity reached 5.15 TW at the end of 2025, after a record 693 GW was added during the year. However, accelerating deployment will require major investment in grids, storage and electrification.
Nearly $1 trillion in annual grid investment will be needed between 2026 and 2030—more than twice the level recorded in 2025, the agency said.
“We must go further and faster to clear the bottlenecks that delay the transition, drive investment to developing countries, and break our addiction to volatile fossil fuels once and for all,” UN Secretary-General António Guterres said.
IRENA also called for rapid expansion of battery storage and system flexibility, with solar, wind and storage combined to provide reliable, cost-competitive electricity around the clock. Digitalization and artificial intelligence could further help match rising electricity demand with clean power supply and improve grid operations.
Renewables were the most cost-competitive source of new electricity generation in most markets in 2025, IRENA said, with solar continuing to post record installation rates.
Variable renewables, mainly solar and wind, are projected to account for about 62% of global installed power capacity by 2030, up from 35% in 2025. Battery storage costs also fell by 30% between 2024 and 2025 and by 95% since 2010.
Meanwhile, global energy intensity improved by around 2% in 2025, well below the 4% annual improvement required to meet the UAE Consensus target.
The report, released during Climate Week NYC by IRENA, the COP31 Presidency of Türkiye and the Global Renewables Alliance, is the third assessment of progress toward the energy goals agreed under the UAE Consensus at COP28.
