In the past decade, solar power has transformed from a niche solution to a primary driver of the global energy transition. With global installed solar PV capacity reaching approximately 1.6 terawatts (TW) as of early 2024, the solar industry is entering a new era of scale, innovation, and accessibility.
The Scale of Solar Growth
- Global installations in 2024 were forecasted between 500–655 GW, with:
- Growth driven by:
Country-by-Country Highlights
China: Leading the Charge
- Installed 268 GW of solar capacity in 2023, over 60% of global additions
- Expected to add 313.7 GW in 2024
- Supported by:
United States: Scaling Up with Policy Backing
- Projected to install 40.6 GW in 2024
- Driven by:
India and Southeast Asia: Emerging Powerhouses
- India projected to add 18.1 GW in 2024
- Supported by:
- Southeast Asia (Vietnam, Thailand, Philippines) scaling up commercial and utility solar due to rising demand and favorable climates
Latin America: Brazil Leads the Region
- Brazil’s solar capacity reached 53.9 GW as of early 2025
- Solar now represents 21.9% of Brazil’s electricity mix
- Distributed generation is playing a major role
- Chile, Mexico, and Colombia are developing major utility-scale projects
Europe: The Decentralized Solar Renaissance
- Germany expected to add 16.5 GW in 2024
- Growth fueled by:
- Key strength: decentralization through feed-in tariffs and net metering
- Italy, Spain, and the Netherlands are also expanding residential and commercial solar
Australia: A Rooftop Solar Leader
- Over 3.92 million PV systems installed by September 2024, totaling 37.8 GW
- High per-capita adoption due to:
- Growth in utility-scale and battery storage installations underway
What’s Powering the Boom?
Several long-term structural and market factors are converging:
- Cost Reductions:
- Policy Support:
- Corporate and Consumer Demand:
- Energy Security:
Rooftop vs. Utility-Scale: Complementary Roles
- Rooftop/Distributed Solar:
- Utility-Scale Solar:
Many regions are adopting hybrid approaches, combining rooftop and utility-scale deployments to maximize flexibility and reliability.
Looking Ahead
As 2025 progresses, the global solar momentum shows no signs of slowing. Key outlook points include:
- Trillions of dollars flowing into clean energy
- Continued advances in storage and smart grid integration
- Increasing urgency from climate imperatives
Solar energy is becoming foundational to modern energy systems—flexible, cost-effective, and widely accessible. From rooftops in Rome to utility-scale plants in Rajasthan, solar is empowering households, businesses, and governments to shape their energy futures.
For more industry insights, visit: 🔗 pes.eu.com/solar