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2 days ago

GLOBAL SOLAR POWER INSTALLATIONS REACH RECORD 600GW IN 2024!

In 2024, the world achieved a significant milestone in renewable energy by installing a record-breaking 600GW of new solar power capacity. This marks a substantial increase from the 459GW added in 2023, reflecting a 29% year-on-year growth.

China led the surge, contributing an outstanding 334GW, which accounts for over half of the global additions. The rapid expansion was driven by strong government policies and significant investments in solar infrastructure. However, the rapid growth also led to challenges, including overcapacity and a significant drop in solar panel prices, prompting calls for the industry consolidation.

Other countries also made notable contributions, with India’s increasing by 77%, an estimated 23GW installed and the United States adding 20GW in the first half of the year, totalling a 55% increase from the same period the year previous.

Looking ahead, the International Energy Agency (IEA) projects that annual renewable energy capacity additions will continue to rise, reaching nearly 940GW by 2030, pointing to an even brighter future.

Congratulations to the global solar community on this incredible achievement.
Whether you are looking to make your next hire, or take a leap into a new role, now is the perfect time to connect with the solar sector.

Interested in new opportunities? Reach out to our solar team here.

Let’s keep building a cleaner, more sustainable future – together!☀️

Sources

PVTech.Org

Reuters - Sustainability

ReNews

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