Global renewable energy capacity nears halfway to 2030 target as solar drives growth

With record renewable energy installations last year, global capacity reached 5.15 terawatts (TW), nearly half of the 11.17 TW clean energy target set for 2030.

At COP28 in Dubai, countries agreed on a global target of 11.17 TW of clean energy capacity by 2030.

According to data compiled by Anadolu for World Renewable Energy Day, solar power led global renewable energy additions last year with 511 gigawatts (GW) of new installed capacity, followed by wind power with 159 GW.

Together, solar and wind energy accounted for 97% of global renewable energy capacity growth last year. The remaining 3% came from sources such as hydropower, bioenergy, and geothermal energy.

With record installations last year, renewable energy-based electrification has become one of the fastest, most scalable, and most cost-effective pathways to the energy transition.

– Solar energy to become ‘fastest and cheapest’ source of new capacity

As energy demand continues to grow rapidly in transport, industry, buildings, and digitalization sectors, the energy transition is expected to increasingly favor renewable energy sources.

The main reason for the acceleration in installations in the renewable energy sector in recent years has been the significant reduction in costs and the sharp increase in installation speed, particularly in solar and wind technologies.

Since solar panels and wind turbines have now become cheaper than new fossil fuel power plants in many countries, both public and private sector investments have shifted to these areas.

In addition, energy security concerns, especially after the natural gas crises experienced since 2022, carbon emission reduction targets, and the massive-scale production and installation capacity of major economies, particularly China, have also accelerated growth.

As a result, solar energy in particular has become the “fastest and cheapest source of new capacity,” becoming the main driver of overall growth.

– Record expectations for Türkiye in renewable energy

Türkiye has entered a growth trajectory aligned with its 2035 renewable energy targets, according to a statement made by Energy and Natural Resources Minister Alparslan Bayraktar at the end of last year.

“2026 will be a record year in renewables,” he added.

As of June 18, Türkiye’s total installed renewable energy capacity stood at 78,398 MW, comprising 32,314 MW of hydropower, 26,978 MW of solar, 15,168 MW of wind, 2,140 MW of bioenergy, and 1,798 MW of geothermal capacity.

Türkiye aims to increase its renewable energy installed capacity to 120,000 MW by 2035. Achieving this target will require the addition of approximately 8,000–9,000 MW of new renewable energy capacity each year.

• solar power led global renewable energy
• World Renewable Energy Day