IEA PVPS has released its latest Trends in Photovoltaic Applications 2025 report, revealing that the world’s cumulative installed PV capacity surpassed 2 260 GW by the end of 2024, marking a 29% year-on-year increase.
According to the report, 2024 was another record year for solar PV, with between 553 GW and 601 GW newly installed worldwide. This volume is a 29% increase compared to 2023, which was almost double that of 2022, itself well above 2021 volumes – resulting from a combination of increased action on climate imperatives, plummeting module costs and actions in China to absorb manufacturing capacity.
China remained the dominant market, installing between 309 GW and 357 GW and accounting for nearly 60% of all new installations. The European Union followed with 66 GW, led by Germany (17.2 GW), Spain (8.7 GW), Italy (6.7 GW), France (6 GW), and Poland (4.2 GW). The United States installed 47 GW, a 40% increase compared to 2023, while India added 32 GW. In total, close to 35 countries now operate GW-scale annual markets, and over 40 countries have more than 4 GWp cumulative capacity.
“Photovoltaics have firmly established themselves as a global cornerstone of electricity generation,” said Melodie de l’Epine, one of the lead authors of the report. “In 2024, almost half of the total installed capacity worldwide was added in just three years, underscoring the rapid acceleration of the energy transition.”
The report highlights several technological and market trends:
- Module efficiencies continue to improve, with n-type technologies now representing 70% of global production.
- Bifacial modules dominate the market, making up over 75% of production.
- Utility-scale systems accounted for about 62% of new installations, while distributed and prosumer markets continue to expand, driven by self-consumption and new business models.
- Dual-use applications such as agrivoltaics, floating PV, and infrastructure-integrated PV are becoming increasingly relevant, helping balance land use, food production, and renewable energy generation.
The IEA PVPS Trends in Photovoltaic Applications 2025 report provides comprehensive data and analysis on global PV deployment, technology, and market evolution from 1992 to 2024. It supports policymakers, utilities, and industry stakeholders in understanding key market drivers and future developments.
