The global renewable energy sector, as outlined in the Renewables 2024 report by the International Energy Agency (IEA), is on a path of rapid expansion but still falls short of the target to triple capacity by 2030 set during the COP28 climate summit. While global renewable capacity is expected to increase significantly, additional policy improvements are deemed necessary to address grid integration gaps, financing challenges, and the deployment of renewable fuels like hydrogen and bioenergy. 2023 saw a record year for renewables with solar PV leading the charge in capacity additions globally, particularly in China, the U.S., and Europe. Solar PV is forecasted to dominate the renewable energy market, with projections indicating a significant increase in annual additions by 2030. Wind energy, despite challenges, is expected to recover, with onshore wind capacity additions set to double in the coming years. Noteworthy growth is also expected in India, where renewable energy is poised to account for a significant portion of electricity generation by 2030. However, the report highlights that hydrogen and biofuels are lagging behind in driving renewable capacity growth, with hydrogen production expected to account for a small percentage of the total. The need for enhanced policy measures to boost the adoption of renewable fuels is emphasized, alongside challenges in grid infrastructure and financing that need to be addressed for the renewable energy sector to meet global ambitions and climate targets.