Renewable energy sources are set to meet nearly half of all electricity demand by the end of the decade, but to fall short of a U.N. goal to triple capacity to reduce carbon emissions, an International Energy Agency (IEA) report showed on Wednesday.

Last year, the International Energy Agency says, the world added a record 565 gigawatts of new renewables capacity — growth of 60 percent over 2022.

Renewable energy is on track to generate half of all electricity supply around the globe by 2030 but is expected to fall short of U.N. targets to triple capacity the same year, the International Energy Agency said.

Renewable energy sources should satisfy half of the world’s electricity needs by 2030. However, the level will still

The commitment to triple the world's renewable energy capacity by 2030 is on pace to fall short, despite the rapid rise of solar energy and favourable policies used by major economies, a new study from the International Energy Agency has revealed.