Record Solar Capacity Additions in 2024

• Globally, 554 to 601.9 GW (DC) of new solar capacity installed.
• BNEF estimates 599 GW, close to the upper end of the IEA PVPS forecast.
• Total solar capacity installed exceeds 2.2 TW.

China Dominates

• China adds up to 357.3 GW (60% of global capacity).
• China’s installed capacity exceeds 1,000 GW.

Other major markets

• EU – 62.6 GW
• US – 47.1 GW
• India – 31.9 GW
• Pakistan is an unexpected leader with 17 GW (4th place in the world).
• Brazil – 14.3 GW.

Geographical spread

• 34 countries added more than 1 GW.
• 23 countries have more than 10 GW of installed capacity.

Share in the energy mix

• Solar energy provided >75% of new renewable energy capacity in the world.
• For the first time, it covered ~10% of global electricity consumption (according to IEA PVPS, although Ember provides 6.9% in generation).
• >25 countries receive >10% of their electricity consumption from the sun (in 2022 – only 9).

Leaders in per capita capacity

• 1. The Netherlands – 1,547 W/person
• 2. Australia – 1,448 W/person
• 3. Germany – 1,198 W/person

Conclusion

Solar energy continues to grow rapidly, especially in China, but also in developing markets (Pakistan, Brazil). However, discrepancies in estimates (10% vs. 6.9% consumption coverage) indicate the need to clarify methodologies.