2024 key results

Record capacity additions

• In 2024, 597 GW (DC) of solar power plants were added worldwide, close to the BNEF estimate (599 GW).
• The annual growth was 33%, which is lower than in 2023 (85%) and 2022 (47%), but the absolute figures remain unprecedented.

China’s leadership

China accounted for 55% of the global growth, adding 329 GW. This confirms the country’s dominance in solar panel production and deployment scale.

Growth of other markets

• India: 30.7 GW (+145%) – 3rd place in the world.
• Brazil: 18.9 GW – 4th place.
• 35 countries added more than 1 GW each, showing the globalization of solar energy.

Solar share in RES

By the end of 2024, solar energy accounted for 46% of all renewable energy capacity (2.2 TW).

Forecast for 2025-2029

2025:

• 655 GW expected to be commissioned (central scenario).
• Key uncertainties: China (possible slowdown due to overcapacity) and the United States (influence of regulatory and economic factors).

Long-term prospects:

• By 2030, annual commissioning could reach 1,000 GW.
• Installed solar energy capacity could reach 7 TW (7,000 GW).

Conclusions

Solar energy continues to grow rapidly, despite a slowdown in percentage terms. China, India and Brazil (the three BRICS countries) dominate the top 4, highlighting the importance of emerging markets. The global transition to renewables is accelerating, but uncertainty remains in key regions.

If current trends continue, solar could become the world’s largest source of generation by the end of the decade.