Core Insights - The International Renewable Energy Agency (IRENA) reported that global renewable energy growth is set to reach a historic high in 2024, but it still falls short of established targets [1][2] - In 2023, the new installed capacity of renewable energy, including solar, wind, and hydropower, reached approximately 582 GW, marking a year-on-year increase of about 15% [1] - To meet the target set at the 2023 UN Climate Conference in Dubai, global renewable energy capacity must increase by 1,122 GW annually starting in 2025, requiring a growth rate of 16.6% over the next decade [1] - IRENA's Director-General, Francesco La Camera, indicated that while challenges exist, the renewable energy growth targets are achievable, with new installations potentially reaching 750 GW by 2025 [1] - The report highlighted that global energy efficiency only improved by 1% in 2024, significantly below the required annual growth rate of 4% to meet set goals [1] Investment Needs - There is an urgent need for large-scale investments in the grid, supply chains, and clean technologies such as solar, wind, batteries, and hydrogen production [2] - From 2025 to 2030, renewable energy investments must expand to at least $1.4 trillion annually, more than doubling from the $624 billion projected for 2024 [2]