How has solar growth impacted the US?

Growth in the US is mainly driven by significant additions of utility-scale solar capacity, which made up over 80% of additions in the first six months of 2024. Solar installations totalled 20 GW from January to June 2024, a 55% increase over the same period last year. This follows a 46% increase in installations in 2023 compared to 2022.

Is China ready for a Solar Power Revolution?

Global solar power capacity skyrocketed in 2023, leading to a rapid acceleration of clean power revolution. The solar surge is not just about the remarkable growth in China, as more gigawatt-scale solar markets are emerging and the vast potential of the sunniest countries is ready to be unleashed.

Will solar power grow again in 2023?

This would once again surpass most industry forecasts, and comes after 2023 showed record growth in solar installations of 86% compared to 2022. Countries need to plan ahead to make the most of the high levels of solar capacity being built today and ensure the continued build-out of capacity in the coming years.

Why did the global solar PV market grow so fast?

This was the largest annual capacity increase ever recorded and brought the cumulative global solar PV capacity to 1,133 GW. The solar PV market continued its steady growth despite disruptions across the solar value chain, mainly due to sharp increases in the costs of raw materials and shipping.

Which countries have the most solar power?

The market leaders in the region are United States of America, Germany, Italy, Netherlands and France with 243 GW capacity contributing 88.1% of the total installed solar capacity in the region. The EU has been a front-runner in the spread of solar energy.

How much solar power does a country have?

The midpoint estimate assumes that 85% of exported capacity results in installations, leading to an estimated 115 GW of solar capacity. Low and high estimates assume installation rates of 60% and 110%, respectively, resulting in a plausible range of 81-149 GW.