Global solar installed capacity up 87% to 447GW in 2023
- Admin
- Jun 18, 2024
- 1 min read
The US installed 32.4GW of solar capacity in 2023, leading the rest of the world except China. Global solar installations increased by 87% year-on-year in 2023 as China continued to dominate growth. SolarPower Europe's Global Market Outlook for Solar Power 2024-2028 report highlighted the increase in global solar PV manufacturing capacities and the response to the global energy crisis in 2022, leading to the substantial growth in solar installations in 2023. Walburga Hemetsberger, CEO of SPE, emphasized the importance of global access to financing and flexible energy systems for solar expansion. Various countries such as the US, China, Brazil, Germany, India, Spain, Japan, Italy, Australia, and the Netherlands contributed significantly to solar capacity additions in 2023. The article also discusses the growing number of advanced solar markets and the investment required to achieve the COP28 target of tripling renewables by 2030.
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