The report from SolarPower Europe reveals that a record 597 GW of solar power was installed globally in 2024, representing a 33% surge over 2023. This significant increase brought global solar capacity to over 2 TW by the end of the year. The report also suggests that the world could be installing 1 TW of solar power per year by the end of the decade, underscoring the accelerating adoption of solar technology across the globe.

Commenting on the report’s findings, Walburga Hemetsberger, CEO of SolarPower Europe, says: ‘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. Decisionmakers across the globe should ensure that their flexibility plans match, and maximise, the solar reality.’

The report indicates that while solar continues to grow globally, its distribution remains highly concentrated and uneven. China led the way in 2024 (see Table 1), adding 329 GW of solar capacity – accounting for 55% of global installations. However, adjustments in China's market design in 2025 are expected to cause a temporary dip in global installations in 2026, suggests SolarPower Europe.

India also saw significant growth, and is recognised as the third-largest solar market (after the US). The country more than doubled its installations, adding 30.7 GW of new solar in 2024 – more than doubling the 12.5 GW installed in 2023, notes the report. India’s comprehensive solar strategy is positioning it as a major force in the energy transition, with strong growth projected in the coming years, adds SolarPower Europe. To meet its ambitious national renewable installation target of 500 GW by 2030, India aims to add another 200 GW of solar within the next five years, it says.

Other regions contributed steady, albeit showing less significant growth. The Americas grew by 40%, installing 82.9 GW of capacity in 2024, led by the US and Brazil. In Europe, the market decelerated to 15% year-on-year, reaching 82.1 GW and accounting for 14% of newly installed global PV capacity.

Trailing behind, growth in the Middle East and Africa region faltered in 2024, according to the report. The region saw a 2% decrease in solar installations in 2024 compared to 2023, with 14.5 GW added, following a 78% growth in 2023. Saudi Arabia led with 1.4 GW installed, surpassing South Africa. However, Saudi Arabia’s market fell 28% due to smaller projects in 2024. South Africa's installations dropped 66% to 1.1 GW from 3.3 GW in 2023, hampered by regulatory issues and grid capacity limits.  

Table 1: Top 10 global solar markets

Source: SolarPower Europe 

Reflecting on the progress of solar energy, Sonia Dunlop, CEO at the Global Solar Council (GSC), says: ‘It’s been 10 years since the GSC was established, and since then we’ve seen immense progress for solar – but this progress is not seen everywhere. Achieving the global target of tripling renewable energy capacity by the end of the decade is possible with solar. We need 1 TW 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.’

The GSC accompanied the analysis with a number of policy recommendations. More advanced markets must focus on enhancing grid flexibility, adapting policy frameworks to the needs of variable renewables, prioritising battery storage, and streamlining permitting and grid-connection processes. For least developed countries, the key lies in bridging investment gaps. Developing a skilled workforce and setting ambitious solar and storage targets are essential tasks across all regions.

Looking ahead, the analysis extends through 2029 and includes a preliminary outlook for 2030. By the end of 2024, solar PV made up 46% of global renewable capacity, with 2.2 TW installed. By 2030, SolarPower Europe expects global installed solar PV capacity to exceed 7 TW. This would represent about 65% of the total renewable capacity required to meet the 11 TW global target.

Record solar power generation records for Europe and UK in early 2025

The latest data from Eurelectric reveals that solar broke another historical record in power generation in March for the third consecutive month thanks to sunnier days and the capacity added in 2024. As a result, the share of renewables in Europe’s power mix was 15% higher in March compared to February, it reports.  

This solar boost, milder weather and nuclear increasing its share of power production from 24% in March 2024 to 26% in 2025 after a few French nuclear reactors came back online decreased power prices to €90/MWh this past March. This compared to highs of €126/MWh seen in February and €112/MWh in January, when low wind availability, limited storage and flexibility sources forced a heavier reliance on gas to supply electricity. While fossil fuel generation dropped by 15% month-on-month, it remained 16% higher in March 2025 than in March 2024, signalling that Europe still relies on gas and coal during periods of high demand, notes Eurelectric.

‘Europe remains too vulnerable to fossil fuel price fluctuations, especially during periods of high electricity demand. To counter this, we must speed up the roll-out of demand side response and storage technologies and further incentivise the use of long-term power purchase agreements,’ comments Kristian Ruby, Eurelectric’s Secretary General.

Capacity mechanisms and flexibility supporting schemes can incentivise the necessary flexibility investments, when price signals alone are not enough. Yet, their use and design differ across Europe, making their implementation more complex. Developing guidelines at EU level can help foster their harmonisation and cross-border integration, provided they remain market-based and open to all technologies, says Eurelectric.  

It is calling for ‘a swift implementation of the electricity market reform to better incentivise flexibility, ensure long-term price stability and wean Europe’s energy system off high-risk dependencies’.

Meanwhile, the UK’s National Energy System Operator (NESO) announced that Great Britain had achieved a new maximum solar generation record of 12.2 GW between 12:30–1pm on 1 April 2025. ‘This is a major milestone on our journey to operating zero-carbon electricity system for a period of time this year,’ NESO posted on X (formerly Twitter).

In response to the news, Jess Ralston, Analyst at the Energy and Climate Intelligence Unit said: ‘Every new solar panel installed in the UK makes us less dependent on gas imports, which is good for our energy independence as well as for stabilising energy bills given the sun offers up its power for free. As we install more solar and build more wind turbines, our reliance on gas will fall, as will our vulnerability to the likes of Putin. Volatile gas prices cost us an extra £140bn since the crisis began so there are benefits for tax payers and bill payers alike.’