Global solar power capacity hits 2.2 TW in 2024, with Turkey among top growers

The world added 597 GW of photovoltaic capacity last year, achieving an astounding 36% rate of growth, SolarPower Europe found. China accounted for 55.1% of all new installations. Turkey is in the global top ten with its 1.42% annual share, while Greece is sixth in the world in the category of solar capacity per person.

SolarPower Europe calculated a much higher global total, 2.2 TW, for photovoltaic facilities at the end of 2024, than the International Renewable Energy Agency (IRENA) – 1.87 TW. The Global Market Outlook for Solar Power 2025-2029 showed annual growth of 36%, by a record 597 GW. The increase itself was 33% higher than in 2023, the update reads.

Photovoltaics accounted for 81% of all new renewable electricity capacity added worldwide. While remaining a modest contributor to overall electricity generation for now, its share reached 6.9%, nearly doubling in just three years. It took nearly 70 years to reach the first terawatt, but only two to more than double it.

Total global capacity is projected at 7.1 TW by 2030

Other renewables accounted for 25% of electricity output in 2024.

In its “most realistic,” moderate scenario, the report’s authors anticipate a 10% increase in new installations to 655 GW this year. Annual growth rates remain in the low double digits through 2029, reaching 930 GW. Total capacity is projected at 7.1 TW by 2030, compared to the 11 TW renewable energy target from the United Nations Climate Change Conference COP28.

China hosted 44% of global solar fleet at end-2024

A key issue is the uneven distribution of solar market growth, SolarPower Europe pointed out. China grew by 329 GW, which is 30% more than in 2023 and more than the combined total of the other top 10 markets! Of note, IRENA measured just 278 GW.

China’s increase was 55.1% of the global total last year. It hit 985 GW overall, the report reads. It is 44% of the global photovoltaics fleet, after 40% in 2023 and 34% in 2022. In IRENA’s statistics, China topped 50% of all solar power installations in the world.

Turkey spikes 76% to 19.7 GW

Turkey, the largest country in the region that Balkan Green Energy News covers, delivered 8.5 GW, catapulting its capacity by 76% to complete 2024 at 19.7 GW.

Its addition made up 1.42% of the world’s annual increase, earning it the seventh position. Turkey’s absolute increase was five times higher than in 2023. Rooftop photovoltaics attributed a stunning 90%.

There are nearly 70 companies in the country actively engaged in PV module manufacturing, with a total capacity exceeding 40 GW. Several investments in solar cell production increased the segment to 2 GW altogether in annual terms.

The number of countries with expansion greater than 1 GW per year is 35, after 31 in 2023. The group, which includes Greece, Romania and Bulgaria, is seen getting ten more members in 2025.

EU within reach of 2030 target

At the end of last year, Europe had a total installed capacity of 407 GW, which is 25.2% more than in 2023. The European Union accounted for 338 GW, growing 23.9%.

The medium scenario suggests the EU would climb to 797 GW altogether by 2030, exceeding the REPowerEU target of 750 GW. But it is 11% lower than in last year’s outlook.

In 2024, solar power generation in the European Union surpassed coal for the first time. Its share in the electricity mix exceeded 10% and reached 20% or more in markets such as Cyprus, Greece, Hungary and Spain. The last two even touched 25%.

Germany is Europe’s largest solar market for 13 years in a row. Overall capacity surged 21% to 101 GW.

Romania is advancing in 2025 by an estimated 67% to 2.9 GW. The government provided strong backing for the rally, advancing large-scale solar projects.

Greece is sixth in world in watts per capita

The report reveals that Germany became the third country hosting more than 1 kW of solar power per capita. It spiked 20.5% to 1,187 W.

The first is Australia, which leaped 10.9% to 1,521 W per person. The Netherlands advanced 13.4% to 1,491 W.

All other countries in the top 10 chart are in Europe. Greece is in the global vanguard, in the sixth place, after spiking 40.3% to 964 W for every inhabitant.