Economic Buzz: International Renewable Energy Agency says 2024 was a record year for global renewable energy production

Calendar year 2024 was officially a record year for global renewable energy production, according to the International Renewable Energy Agency, or IRENA. Renewables made up more than 92 per cent of all new electricity capacity installed last year. Europe's capacity rose by nine per cent, with Germany contributing more than a quarter of that growth. Meanwhile, Africa's capacity grew by around seven per cent.

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