Global renewable energy deployment reached a record level in 2025, but growth must accelerate significantly to achieve the target of tripling capacity by 2030, according to a new report by the International Renewable Energy Agency (Irena).

The report, released with the COP31 Presidency of Türkiye and the Global Renewables Alliance (GRA) during Climate Week NYC, said global installed renewable power capacity reached 5.15 terawatts (TW) at the end of 2025.

Despite a record 693 gigawatts (GW) of new capacity added during the year, average annual additions must increase to 1,200 GW between 2026 and 2030 to meet the globally agreed target of 11.2 TW.

The report, “Delivering on the UAE Consensus: Tracking Progress Toward Tripling Renewable Energy Capacity and Doubling Energy Efficiency by 2030”, is the third assessment of progress towards the landmark energy targets agreed at COP28.

It found that global energy intensity improved by around 2% in 2025, well below the 4% annual improvement required to meet the UAE Consensus energy-efficiency goal.

The report highlighted persistent challenges in investment, electricity grids and electrification, calling for bolder action ahead of COP31 in Antalya, Türkiye.

It said annual investment in grids and flexibility must rise to nearly $1 trillion between 2026 and 2030, more than double 2025 levels, while battery storage, efficient electrical technologies and system flexibility must be rapidly expanded.

The report also called for greater deployment of around-the-clock renewable energy systems combining solar, wind and storage, alongside increased use of digitalisation and artificial intelligence to better align rising electricity demand with clean power supply.

United Nations Secretary-General António Guterres said renewable energy records were being broken year after year as the clean energy revolution accelerated.

He called for faster action to remove bottlenecks delaying the transition, direct more investment towards developing countries and reduce dependence on volatile fossil fuels.

Francesco La Camera, Director-General of Irena, said renewables could still close the gap towards the 2030 target, but energy efficiency was falling behind, electricity demand was rising faster than expected and grid infrastructure had failed to keep pace with renewable deployment.

He said Irena’s revised roadmap showed the need to accelerate electrification and rapidly scale up and modernise renewable generation, grids, storage and flexibility.

Chris Bowen, Australia’s Minister for Climate Change and Energy and President of Negotiations for COP31, said greater efforts were needed to support investment in electrification, from modern grids and storage to clean, affordable and reliable electricity.

He said Australia was working closely with Türkiye to ensure COP31 places electrification at the centre of its agenda.

The report projects that by 2030, variable renewables such as solar and wind will overtake total fossil-fuel generation capacity and account for around 62% of global installed power capacity, up from 35% in 2025.

Battery storage costs fell 30% between 2024 and 2025 and 95% since 2010, strengthening the role of storage in delivering reliable renewable-based electricity systems.

Around-the-clock renewable systems combining solar generation and storage accounted for around a quarter of utility-scale solar commissioned globally in 2025.

The report said greater electrification will be central to achieving the UAE Consensus target of doubling the global rate of energy-efficiency improvement by 2030.

Beyond 2030, it said further acceleration would be needed to raise electricity's share of global final energy consumption to 35% by 2035, a target under discussion as part of the COP31 agenda.