Solar had a record-breaking year in 2024. Global installations hit 597 GW – a 33% leap from 2023.
Solar made up 81% of all new renewable power, and its share of global electricity nearly doubled to 7%, according to Solar Power Europe.
Installed solar capacity passed 2 TW in late 2024. It took 70 years to reach the first terawatt. The second took just two.
China led the charge. It added 329 GW – more than the next 10 countries combined. That’s 55% of global installs. But with big changes to China’s market in 2025, a short-term dip is expected in 2026.
India is the rising star. It more than doubled its installs, jumping from 12.5 GW in 2023 to 30.7 GW in 2024. Now the third-largest market, India aims to add 200 GW more by 2030.
Europe and the Americas also showed strong growth – up 15% and 40% respectively. But the Middle East and Africa slipped, with lower installs than the year before.
Solar now grows faster than any other power source. It’s added capacity at triple the pace of wind. Costs are still falling thanks to overcapacity in manufacturing and tech breakthroughs.
But challenges loom. Growth is too concentrated. A global energy transition needs global action.
The Global Solar Council says the world could install 655 GW in 2025. But hitting 8 TW by 2030 means ramping up to 1 TW per year.
Key hurdles include grid bottlenecks, slow permitting, and a lack of investment in emerging markets.
The outlook is still bright says the industry. With the right policies and finance, solar could deliver nearly two-thirds of the 11 TW renewable target set at COP28.
