For the 29th consecutive year, the IEA-PVPS Trends report is now available. This document provides the most comprehensive global overview of the development of the Photovoltaics sector, covering policies, drivers, technologies, statistics and industry analysis.
Key Highlights:
· Global PV Installations: A record-breaking 456 GW of photovoltaic capacity was installed globally in 2023.
· China’s Dominance: China’s solar market accounted for the majority of global growth, contributing 277 GW, while the rest of the world added 179 GW.
· Operational Capacity: By early 2024, over 1.6 TW of PV systems were operational globally, producing 2,136 TWh of electricity, which accounts for 8.3% of global electricity demand.
· Emission Reductions: These PV systems reduced 0.92 gigatons of CO2 emissions, equivalent to 2.5% of global energy-related emissions, if we consider they now replace baseload power generation – confirming solar energy as a cornerstone of the sustainable energy transition.
“The 2024 edition of the Trends report reflects the dual realities of an industry achieving extraordinary global growth while facing substantial pressures, particularly in manufacturing. The need for global collaboration to resolve these challenges has never been more critical.” – Gaëtan Masson, Manager of IEA PVPS Task 1
