The world added a record 597 gigawatts (GW) of solar power capacity in 2024, marking a 33% increase over the previous year, according to a new report by SolarPower Europe, which projects that annual installations could reach 1 terawatt (TW) by 2030.
The milestone comes as global installed solar photovoltaic (PV) capacity surpassed 2TW by the end of 2024. The report highlights the growing role of solar in the global energy transition but also notes regional disparities in deployment and the need for more supportive infrastructure and policy.
“The solar age is truly here,” said Walburga Hemetsberger, chief executive of SolarPower Europe. “While the uptake of solar varies across regions across the world, a common theme is the importance of flexible, electrified energy systems – underpinned by critical technology like battery storage.”
China remained the dominant force in the global solar market, accounting for 329GW of new capacity—55% of the global total. However, the report cautions that changes to China’s market design in 2025 may result in a temporary dip in installations in 2026.
India was highlighted as the third-largest solar market in 2024, having more than doubled its annual installations to 30.7GW, up from 12.5GW the previous year—a 145% increase. SolarPower Europe said India’s long-term strategy, aimed at adding 200GW of solar by 2030, positions it as a major driver of solar growth.
Other regions reported more modest gains, with solar capacity in the Americas growing by 40% and in Europe by 15%. By contrast, installations in the Middle East and Africa declined year-on-year, underlining persistent barriers in some emerging markets.
“Achieving the global target of tripling renewable energy capacity by the end of the decade is possible with solar,” said Sonia Dunlop, chief executive of the Global Solar Council. “That means action now to prepare for the future: smarter grids, faster permitting, bigger investments in emerging markets, and serious workforce planning.”
Solar PV accounted for 46% of global renewable energy capacity at the end of 2024, reaching 2.2TW installed. The report emphasises the urgency of aligning infrastructure and policy frameworks with the pace of solar deployment to sustain long-term momentum.
