Global Market Outlook for Solar 2024-2028
Global Market Outlook for Solar 2024-2028 Built on comprehensive historical market data to measure past progress, including a solid 5-year forecast for the key global markets to anticipate future trends
Global Market Outlook for Solar 2024-2028 Built on comprehensive historical market data to measure past progress, including a solid 5-year forecast for the key global markets to anticipate future trends
Policymakers in some of the world''s largest economies are reducing support for solar power generation. Even so, Goldman Sachs Research expects rapid growth in the sector, with global
The global solar power market size was valued at USD 253.69 billion in 2023 and is projected to be worth USD 273 billion in 2024 and reach USD 436.36 billion by 2032, exhibiting a
Policymakers in some of the world''s largest economies are reducing support for solar power generation. Even so, Goldman Sachs Research expects
Global Market Outlook for Solar Power 2025–2029 provides an in-depth forecast and analysis of the global solar power sector, with a special focus on India''s rapid growth and emerging
In this report-style exploration, we''ll unpack the current state of the solar market, the pressures it faces, where growth is emerging, and what this means for utilities, investors,
In 2024, solar represented 13.7% of net summer capacity and 6.9% of annual generation. EIA projects that PV''s growth in 2023 (27 GWac) and 2024 (36 GWac) will continue in
Beyond utility-scale wind and solar, phaseouts are reshaping other technologies. The residential solar 25D credit sunsets after 2025, pushing installers toward leasing, power purchase agreements
These findings are detailed in the report “ Global Market Outlook for Solar Power 2025–2029,” released by SolarPower Europe on May 6, 2025. Key Highlights From The Report
The global solar power market size was calculated at USD 286.15 billion in 2025 and is projected to hit around USD 522.71 billion by 2035 with a solid CAGR of 6.21%.
Overall, our five-year utility-scale solar outlook remained virtually unchanged from our Q3 outlook. However, additional permitting risk remains for projects sited on private lands, given the
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