Global Market Outlook for Solar Power 2025-2029

Global solar installations reached nearly 600 GW – an impressive 33% increase over the previous year – setting yet another record. Solar accounted for 81% of all new renewable energy

Spring 2025 Solar Industry Update

• At the end of 2024, solar was the second-largest source of U.S. generation capacity, though still a growing percentage of the U.S. electric generation mix. • In 2024, solar represented

Annual percentage change in solar energy generation

About this data Annual percentage change in solar power consumption Figures are based on gross generation and do not account for cross-border electricity supply.

Electricity generation from U.S. solar grows 28% year-over-year

This represents 28% year-over-year growth for solar generation. Looking ahead, EIA expects solar growth to continue, according to its Short-Term Energy Outlook report.

Solar and wind to lead growth of U.S. power generation for the next

As a result of new solar projects coming on line this year, we forecast that U.S. solar power generation will grow 75% from 163 billion kilowatthours (kWh) in 2023 to 286 billion kWh in 2025.

Growth of photovoltaics

OverviewHistory of market developmentSolar PV nameplate capacityCurrent statusHistory of leading countriesSee alsoExternal links

The average price per watt dropped drastically for solar cells in the decades leading up to 2017. While in 1977 prices for crystalline silicon cells were about $77 per watt, average spot prices in August 2018 were as low as $0.13 per watt or nearly 600 times less than forty years ago. Prices for thin-film solar cells and for c-Si solar panels were around $.60 per watt. Module and cell prices declined even further after 2014 (see price quotes in table).

Solar Industry Research Data – SEIA

American Solar Deployment Grows at Record Pace Solar has seen massive growth since 2010. There are now 262 gigawatts direct-current of solar capacity installed nationwide, enough to power 45

Global solar energy outlook

In the last few years, solar energy has been the main driver for renewable energy growth worldwide. In 2024, solar photovoltaic capacity additions surpassed 600 gigawatts, accounting for

Growth of photovoltaics

From 2016 to 2022, PV has seen an annual capacity and production growth rate of around 26%, doubling approximately every three years.

Renewable electricity – Renewables 2025 – Analysis

Growth in utility-scale and distributed solar PV more than doubles, representing nearly 80% of worldwide renewable electricity capacity expansion. Low module costs, relatively efficient permitting processes

Solar power generation drives electricity generation growth over the

We expect the combined share of generation from solar power and wind power to rise from about 18% in 2025 to about 21% in 2027. In our STEO forecast, utility-scale solar is the fastest