In the newly published Global Market Outlook for Solar Power 2025–2029 by SolarPower Europe, for the first time, the forecast horizon has been extended to 2030. This moment is recognized as a key turning point in achieving global climate goals, with solar energy emerging as the most significant driver of the transition toward climate neutrality.
At the COP28 conference held in December 2023, more than 130 countries agreed to triple global renewable energy capacity by 2030, aiming to reach a total of 11 TW of installed capacity. It is already widely accepted that solar energy will play a leading role in meeting this target.
As previously reported, solar energy achieved remarkable results in 2024, reaching a global installed capacity of 2.2 TW. According to the report’s medium scenario, global solar capacity is expected to exceed 7 TW by 2030. This would mean solar energy would account for around 65 percent of the total capacity targeted at COP28.
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To meet the medium scenario, approximately 800 GW of new solar capacity must be installed annually from now until 2030. While this goal appears highly ambitious, past forecasts have underestimated the pace of development in the solar industry. Capacity growth has exceeded expectations, giving solar power a realistic chance of achieving what currently seems like an extremely challenging goal.
Further opportunity for solar expansion is created by the growing demand for electricity, driven by the rise of artificial intelligence, the increasing number of data centers, and the wider adoption of electric vehicles and electric heating. The report emphasizes that this will further increase the need for flexible and cost-competitive energy sources, with solar energy taking center stage.
In addition to market dynamics, government policies will play a crucial role – particularly those that mandate rooftop solar installations as a requirement.
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