In 2020, installed solar capacity worldwide grew to a cumulative 773 GW, SPE

In 2020, 138.2 gigawatts (GW) of new photovoltaic capacity was installed worldwide, representing 18 percent growth compared to 2019. This brings the global installed capacity to 773.2 GW. Photovoltaics accounted for 39 percent of new capacity installed last year across all power generation technologies. At the same time, solar energy's share of total electricity generation rose to about 3.1 percent, according to the »Global Market Outlook for Solar Power 2021-2025« published by the solar industry association Solar Power Europe (SPE).
The top 5 solar markets in 2020 were China with 48.2 GW of new installations, the US with 19.2 GW, Vietnam with 11.6 GW, Japan with 8.2 GW, and Australia with 5.1 GW. SPE expects solar to add 163 GW in 2021, 203 GW in 2022, 225 GW in 2023, 239 GW in 2024, and 266 GW in 2025. According to a medium-ambition scenario, the organization expects that total global solar capacity will be at 900 GW in 2021, 1.1 TW in 2022, 1.3 TW in 2023, 1.6 TW in 2024, and 1.8 TW in 2025. »Under optimal conditions, the world could operate a solar fleet as large as 2.1 TW by the end of 2025.«

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