The world installed a record 597GW of solar power in 2024 – and could be installing 1TW per year by 2030, a new report has revealed.
The new report from SolarPower Europe reveals that the amount of solar power installed in 2024 represents a 33% surge over the 2023 figure.
After the world crossed the milestone of 2TW total solar in late 2024, the annual report predicts the world could be installing 1TW of solar per year by the end of the decade.
SolarPower Europe chief executive Walburga Hemetsberger said: “The solar age is truly here.
“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.
“Decision-makers across the globe should ensure that their flexibility plans match, and maximise, the solar reality.”
While solar continues to grow globally, its distribution remains highly concentrated and uneven.
In 2024, China alone added 329GW of solar capacity – accounting for 55% of global installations.
With adjustments in China’s market design in 2025, a temporary dip in global installations in 2026 appears likely.
This year’s special focus is India, recognising the third-largest solar market, which more than doubled its installations in 2024.
A 145% annual market increase in India meant 30.7GW of new solar added in 2024, which is a stark uplift from the 12.5GW installed in 2023.
SolarPower Europe said India’s comprehensive solar strategy is positioning it as a major force in the energy transition, with strong growth projected in the coming years.
To meet India’s ambitious national renewable installation target of 500GW by 2030, the country aims to add another 200GW of solar within the next five years.
Other regions contribute steady, albeit less significant growth, with the Americas and Europe growing by 40% and 15% respectively, the report revealed.
Meanwhile, growth in the Middle East and Africa faltered in 2024, with installations declining year-on-year.
Global Solar Council chief executive Sonia Dunlop said: “Achieving the global target of tripling renewable energy capacity by the end of the decade is possible with solar, we need 1TW of solar every year through 2030 and solar progress in more and more countries.
“That means action now to prepare for the future: smarter grids, faster permitting, bigger investments in emerging markets, and serious workforce planning.”
By the end of 2024, solar PV made up 46% of global renewable capacity, with 2.2TW installed.
