Global Market Outlook for Solar Power 2025-2029
Welcome to the Global Market Outlook for Solar Power 2025-2029 The year 2024 was a true landmark year for solar power. Global solar installations reached nearly 600 GW – an
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Global solar PV manufacturing capacity has increasingly moved from Europe, Japan and the United States to China over the last decade. China has invested over USD 50 billion in new PV supply capacity – ten times more than Europe − and created more than 300 000 manufacturing jobs across the solar PV value chain since 2011.
The future outlook for the global solar PV market is highly positive, driven by accelerating energy transition goals, declining technology costs, and supportive government policies worldwide.
Cumulative solar PV capacity is expected to exceed most energy analysts' forecasts by 2030. If the solar market trajectory continues as projected, total global solar installations are set to triple over the next five years, surpassing 6 TW by 2029 in the Medium Scenario.
Solar Photovoltaic market was valued at USD 323.5 billion in 2025. The market is expected to grow from USD 345 billion in 2026 to USD 694.5 billion by 2035, at a CAGR of 8.1% from 2026 to 2035. Integrating solar PV into agriculture and business operations is poised to drive product demand.
Welcome to the Global Market Outlook for Solar Power 2025-2029 The year 2024 was a true landmark year for solar power. Global solar installations reached nearly 600 GW – an
The photovoltaic industry is transforming energy production, driving sustainability, and improving energy independence. The 2025 Photovoltaic Market Outlook delves into emerging trends,
A Snapshot of Global PV Markets In 2024, global photovoltaic capacity rose to more than 2.2 TW *, up from 1.6 TW in 2023, with around 602 GW of new PV systems commissioned. This
The IEA-PVPS 2025 Snapshot of Global PV Markets reveals a pivotal moment for solar power: global PV capacity surpassed 2.2 TW, with more than 600 GW installed in 2024 alone. As
IEA PVPS has released its latest Trends in Photovoltaic Applications 2025 report, revealing that the world''s cumulative installed PV capacity surpassed 2 260 GW by the end of 2024, marking a 29%
The general trend towards electrification of heating, transport and industry creates additional demand for renewable electricity, including solar. The annual growth rate of the photovoltaic market is expected
Solar PV Global Supply Chains - Analysis and key findings. A report by the International Energy Agency.
3. Market segment outlooks 3.1. Residential PV 1,106 MWdc installed in Q1 2025 Down 13% from Q1 2024 Down 4% from Q4 2024 Tax credit and tariff uncertainty are top of mind for the
The solar photovoltaic market size crossed USD 323.5 billion in 2025 and is expected to grow at a CAGR of 8.1% from 2026 to 2035, driven by integration of solar PV across agriculture and business
Executive Summary Global PV Deployment In 2024, between 554 GWdc and 602 GWdc of PV were added globally, bringing the cumulative installed capacity to 2.2 TWdc. China continued
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