Global Solar Capacity Surpasses 2.2 TW as PV Powers Over 10% of World Electricity

Global solar photovoltaic (PV) capacity soared past 2.2 terawatts (TW) by the end of 2024, marking a record 29 percent year-on-year increase, according to the International Energy Agency’s Photovoltaic Power Systems Programme (IEA-PVPS) Snapshot of Global PV Markets 2024 report.

The report attributes the surge to falling module prices, growing investor confidence, and accelerating climate commitments that have turned PV into the backbone of the clean-energy transition. In 2024 alone, between 554 and 602 gigawatts (GW) of new solar capacity were installed worldwide, lifting PV’s share of global electricity generation above 10 percent for the first time.

China continued to dominate the market, adding up to 357 GW—nearly 60 percent of global additions and pushing its cumulative capacity beyond the 1 TW mark. Outside China, the European Union (≈63 GW), the United States (47 GW), and India (32 GW) led growth, while emerging players such as Pakistan (17 GW) and Brazil (14 GW) also saw significant expansion.

The IEA-PVPS graphic shows that 34 countries installed more than 1 GW in 2024 and 23 now exceed 10 GW in total capacity. Utility-scale projects dominated, though rooftop and distributed systems remained strong in markets like Germany, Türkiye, and Brazil.

However, the study warns that rising curtailment in high-penetration regions underscores the urgent need for grid flexibility, energy storage, and smarter business models. PV represented more than three-quarters of all new renewable generation added globally in 2024.