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Global Solar Installations Hit Record 597 GW in 2024, Led by China and India
May 13, 2025
Global solar installations soared to a record 597 GW in 2024, marking a 33% year-on-year increase, according to SolarPower Europe. This milestone pushed the total installed solar capacity past 2 TW, positioning solar PV as the dominant force in the global renewable energy transition. The report predicts annual solar additions could reach 1 TW by 2030, with solar accounting for 46% of global renewable capacity by the end of 2024.
China led the charge, adding 329 GW—55% of the global total—while India emerged as the third-largest market, doubling its installations with a 145% growth to reach 30.7 GW. The U.S. contributed 8% of the total, followed by Brazil, Germany, and other key markets.
Solar PV represented 81% of the 735 GW in new renewable capacity in 2024, significantly outperforming wind (185 TWh) and hydro (183 TWh). In total, solar generation grew by 474 TWh, a 29% annual increase.
The number of GW-scale markets rose to 35, with new entrants like Colombia, Uzbekistan, and the Philippines. Asia-Pacific (including China) dominated global growth with 417 GW of additions, 70% of the global total.
Despite this progress, 2025 could see a slowdown driven by structural challenges, including grid bottlenecks, underinvestment in flexibility, and policy uncertainties, particularly in the U.S. and China. These headwinds are already impacting solar capture prices in developed markets.
Still, the global PV market is projected to grow 10% in 2025 to 655 GW, with long-term scenarios suggesting installations could hit 930 GW by 2029 under the medium growth case. The High Scenario sees annual additions crossing 1 TW by 2028, while the Low Scenario anticipates a slowdown to 694 GW by 2029 due to adverse policy and economic conditions.