Solar PV Significantly Grew Globally in 2024, Bolstered by
In 2024, the growth in electricity generation from solar PV alone surpassed that of all other renewable energy (RE) technologies combined. This is despite a substantial rebound
In this context, electricity generation from solar PV grew by a record 475 TWh (30%), the largest increase of all electricity generating technologies by far (Chart 1). In 2024, the growth in electricity generation from solar PV alone surpassed that of all other renewable energy (RE) technologies combined.
Depending on your local electricity mix, it typically takes 2-3 years for solar panels to offset their life-cycle emissions, leaving decades of clean power generation, water conservation, and energy cost savings.
In all areas: electricity generation growth, installed capacity growth, and cost competitiveness, solar PV domination is now overwhelming. And solar PV takeover is accompanied by the timely meteoric rise of battery storage, which cumulative installed capacity likely overtook that of pumped hydro storage last year.
The U.S. electric power sector has changed significantly over the past several decades, and significant changes are likely to continue. Electricity generation technologies are changing as older generation sources retire and new sources, including gas, wind, solar, and battery storage, come online.
PDF version includes complete article with source references. Suitable for printing and offline reading.
Download detailed specifications, case studies, and technical data sheets for our ESS containers and containerized PV systems.
15 Rue des Énergies Renouvelables
Paris 75015, France
+33 1 84 83 72 76
Monday - Friday: 8:30 AM - 6:30 PM CET