306 429.6 mw Cumulative photovoltaic capacity in the European Union in 2024
Once again, solar photovoltaic displayed its aptitude for rapid deployment on a global scale in 2024. The International Renewable Energy Agency, IRENA, reported that net maximum global photovoltaic capacity worldwide had risen to 1 858.6 GW by the end of the year, amounting to 451.9 GW of additional capacity in the space of 12 months. This amounts to a 28.1% year-on-year increase, compared to the 352.7 GW added in 2023. China towers above the rest of the world for installation (it added 278 GW) and accounts for over 60% of the global market. The European Union remained in second place in 2024 with net maximum additional capacity of about 60 GW, according to EurObserv’ER, and established a clear lead over the United States and India. This global solar growth now goes hand in hand with large scale development of electrochemical storage. China and the United States have already installed tens of GW of storage facilities, while the European and Indian markets are burgeoning.
