Global Solar Capacity Reaches 1,418 GW
POWER & RENEWABLE ENERGY

Global Solar Capacity Reaches 1,418 GW

The global solar power sector has witnessed impressive growth, reaching a total capacity of 1,418 gigawatts (GW), according to recent reports. This expansion is accompanied by record investments, which have surged to $3.1 trillion in recent years. The rising demand for clean energy, combined with technological advancements and declining costs, has driven this growth, positioning solar as a central pillar in the transition to renewable energy.

The report highlights how solar power has become increasingly cost-competitive, with large-scale solar projects now achieving cost parity with traditional fossil fuel-based generation. This shift is particularly prominent in emerging economies, where solar is playing a key role in addressing energy access and sustainability.

Countries across the globe are accelerating their efforts to meet climate goals, with solar energy emerging as a critical component in their renewable energy strategies. The International Energy Agency (IEA) predicts that solar will lead global power generation, outpacing coal and natural gas in the coming decades. Additionally, solar technology's scalability and efficiency improvements are expected to further drive its adoption worldwide.

The $3.1 trillion in investments signifies the increasing confidence in the solar sector and its long-term viability. These investments are being directed toward infrastructure development, advanced technologies, and expanding grid integration, further enhancing solar's role in the global energy mix.

This milestone is not only a testament to the sector's growth but also signals a positive shift toward a more sustainable and clean energy future, with solar power at its forefront.

The global solar power sector has witnessed impressive growth, reaching a total capacity of 1,418 gigawatts (GW), according to recent reports. This expansion is accompanied by record investments, which have surged to $3.1 trillion in recent years. The rising demand for clean energy, combined with technological advancements and declining costs, has driven this growth, positioning solar as a central pillar in the transition to renewable energy. The report highlights how solar power has become increasingly cost-competitive, with large-scale solar projects now achieving cost parity with traditional fossil fuel-based generation. This shift is particularly prominent in emerging economies, where solar is playing a key role in addressing energy access and sustainability. Countries across the globe are accelerating their efforts to meet climate goals, with solar energy emerging as a critical component in their renewable energy strategies. The International Energy Agency (IEA) predicts that solar will lead global power generation, outpacing coal and natural gas in the coming decades. Additionally, solar technology's scalability and efficiency improvements are expected to further drive its adoption worldwide. The $3.1 trillion in investments signifies the increasing confidence in the solar sector and its long-term viability. These investments are being directed toward infrastructure development, advanced technologies, and expanding grid integration, further enhancing solar's role in the global energy mix. This milestone is not only a testament to the sector's growth but also signals a positive shift toward a more sustainable and clean energy future, with solar power at its forefront.

Next Story
Infrastructure Urban

TRAI Evaluates Telecom Service in Nine Cities

In December 2024, the Telecom Regulatory Authority of India (TRAI) conducted Independent Drive Tests (IDT) across nine cities, highways, and railway routes, including Aligarh, Bhubaneswar, Jammu, Lucknow, Navi Mumbai, Raipur, Siliguri, Thiruvananthapuram, and the Vapi-Rewari Highway. The tests aimed to assess the quality of voice and data services provided by telecom operators such as Bharti Airtel, BSNL/MTNL, Reliance Jio, and Vodafone Idea using various technologies like 2G, 3G, 4G, and 5G. The drive tests evaluated Key Performance Indicators (KPIs) for both voice and data services, includi..

Next Story
Infrastructure Urban

Kolkata to Host North East Trade & Investment Roadshow

Kolkata is set to host the North East Trade & Investment Roadshow on March 7, 2025, at Hotel JW Marriott, starting at 10:30 a.m. Organized by the Ministry of Development of North Eastern Region (MDoNER) in collaboration with FICCI and Invest India, the event aims to attract investors and promote economic opportunities in the North East. The roadshow will be graced by Dr. Sukanta Majumdar, Minister of State for MDoNER & Education, along with Shri Dharmvir Jha, Statistical Adviser, MDoNER, and senior representatives from all eight North Eastern states. The event will feature presentations on ke..

Next Story
Infrastructure Energy

India’s Rooftop Solar Installations Surge by 86% in 2024

India added 3.2 GW of rooftop solar capacity in 2024, marking an 86% increase from the previous year, according to Mercom India Research’s latest Q4 & Annual 2024 India Rooftop Solar Market Report. The surge was largely fueled by the PM Surya Ghar: Muft Bijli Yojana, with the residential sector accounting for 74% of the total installations. In the wind power sector, NLC India and Adyant Enersol (Datta Infra) secured bids in SJVN’s auction for 600 MW of inter-state transmission system-connected wind projects. NLC India won 200 MW at a tariff of Rs 3.74/kWh, while Adyant Enersol secured 112..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?