In the past three months, the International Energy Agency, the International Renewable Energy Agency, and BloombergNEF published preliminary data for the power sector in 2024. These data hammer the same powerful message: solar photovoltaic (PV) has become the new cornerstone of the global power sector.
Regarding global power generation, solar nearly doubled its share over the past 3 years, growing by 1.3 percentage points only last year to a 7% share in the world’s electricity mix. This growth continued to drive renewable penetration and pushed additions of conventional electricity sources to a new low.
These ten hand-picked data points showcase the industry’s remarkable growth. China holds over 35% of worldwide solar market share. The solar energy market is rapidly expanding, transitioning from an alternative energy source to a mainstream power generation solution.
Solar experienced the fastest growth among all power generation technologies in terms of electricity output, three times as much as wind power, which was ranked second. As if that weren’t enough, global installed solar capacity surpassed 2 TW in 2024. It took nearly 70 years to reach the first terawatt, but only two more to double it.
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The remaining countries added 65 GW in H1-2025, 22% more than in H1-2024. Growth in Africa is also beginning to take-off, as the amount of solar panels it imported from …
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The year 2024 was a true landmark year for solar power. Global solar installations reached nearly 600 GW – an impressive 33% increase over the previous year – setting yet …
To meet net-zero targets, solar capacity must therefore increase by 20% every year until 2030. Although it’s currently on track to …
Solar generation reaches new high Global solar power generation rose by 30% in 2024, exceeding 2,000 terawatt-hours (TWh). In absolute terms, solar growth reached 475 …
The solar energy market is rapidly expanding, transitioning from an alternative energy source to a mainstream power generation …
China and the US may be reducing policy support for the solar power sector, but Goldman Sachs Research still expects rapid growth, with solar installations set to rise by 57% …
The solar energy market is rapidly expanding, transitioning from an alternative energy source to a mainstream power generation solution. Current statistics highlight its …
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Percentage change in solar energy generation relative to the previous year.
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Solar generation reaches new high Global solar power generation rose by 30% in 2024, exceeding 2,000 terawatt-hours (TWh). …
Solar energy is the conversion of sunlight into usable energy forms. Solar photovoltaics (PV), solar thermal electricity and solar heating …
In the past three months, the International Energy Agency, the International Renewable Energy Agency, and BloombergNEF published preliminary data for the power …
Moreover, PV panels also contain hazardous materials that will require careful end-of-life management. The International Renewable …
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Percentage change in solar energy generation relative to the previous year.
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