Executive Summary
1.1 Global Solar PV Capacity Grew by
30.9% in 2024, Adding a Record
462.4GW
1.2 Utility-Scale Solar Drove Record Growth, But Rooftop Markets Are Losing Steam in Key Regions
1.3 China Remains the Undisputed Leader, But Growth Spreads Globally
1.4 Solar Module Prices Hit Record Lows in 2024, Prompting Industry Consolidation and Policy Response
1.5 Solar PV Led Global Power Capacity Additions in 2024
1.6 Europe Hit a New Record of
69.3 GW in 2024, But Growth Slowed Significantly
1.7 Emerging Markets Are the New Frontier for Solar Growth
1.8 REPowerEU and Global Climate Targets at Risk Without a Structural Policy Shift
1.9 Next-Generation Solar Technologies Edge Closer to Commercialization
1.10 Tariffs, Trade Tensions, and Local Content Rules Reshape Global Solar Supply Chains
1.11 Hybrid Solar-Plus-Storage Systems Gain Ground Across Grid-Edge and Utility Markets
1.12 Digitalization, AI, and Predictive Maintenance Improve PV System Performance
1.13 Agri-PV, Floatovoltaics, and Building-Integrated Solar Expand Market Frontiers
2 Introduction
2.1 Solar PV, Overview
2.2 Types of Solar Modules
− Crystalline Silicon Modules
− Thin-film Technology
− Perovskite Technology
2.3 Types of Solar PV Mounting Systems
− Roof-Mounted Systems
− Ground-Mounted Systems
− Floating PV Systems (Floatovoltaics)
− Carport and Canopy Mounts
2.4 Nature of Solar Installations
− By Grid Connectivity
2.5 Solar PV, Value Chain
2.6 Solar PV, Manufacturing Supply Chain
2.7 GlobalData Report Guidance
3 Solar PV Market, Global
3.1 Overview
3.2 Solar PV Market, Global, Installed Capacity, 2015–2035
− Solar PV Market, Global, Installed Capacity by Region, 2024
− Solar PV Market, Global, Installed Capacity by Major Countries, 2024
− Solar PV Market, Global, Annual Capacity Addition by Segment
3.3 Solar PV Market, Global, Generation, 2015–2035
− Solar PV Market, Global, Generation by Region, 2024
− Solar PV Market, Global, Generation by Major Countries, 2024
3.4 Solar PV Market, Global, Market Size, 2016–2035
3.5 Solar PV Market, Global, Module Market Share, 2023
− Solar PV Market, Global, Crystalline Modules’ Market Share, 2023
− Solar PV Market, Global, Thin-Film Modules Market Share, 2023
3.6 Solar PV Market, Global, Company Profiles
3.7 Solar PV Market, Global, Deal Analysis
3.8 Solar PV Market, Global, Deals by Type, 2024
− Mergers and Acquisitions:
3.9 Solar PV Market, Global, Drivers and Challenges
− Solar PV Market, Global, Major Drivers
− Solar PV Market, Global, Major Challenges
4 Solar PV Market, the US
4.1 Overview
− US Solar PV Policy Evolution
4.2 Solar PV Market, the US, Installed Capacity, 2015–2035
− Solar PV Market, the US, Cumulative Installed Capacity, By State
− Solar PV Market, the US, Annual Capacity Addition, By State
− Solar PV Market, the US, Annual Capacity Addition by Segment
4.3 Solar PV Market, the US, Electricity Generation, 2015–2035
− Solar PV Market, the US, Electricity Generation, By State
4.4 Solar PV Market, the US, Major Active Plants
4.5 Solar PV Market, the US, Major Upcoming Plants
4.6 Upcoming Projects Status Analysis, the US
4.7 Solar PV Market, the US, Deal Analysis
− Solar PV Market, the US, Deals by Type, 2024
− Mergers and Acquisitions:
4.8 Solar PV Market, the US, Market Size, 2016–2035
4.9 Solar PV Market, the US, Imports and Exports, 2020–2024
4.10 Solar PV Market, the US, Drivers and Challenges
− Solar PV Market, the US, Major Drivers
− Solar PV Market, the US, Major Challenges
4.11 Key Laws, Regulations and Policies
− Inflation Reduction Act (IRA) of 2022
− Greenhouse Gas Reduction Fund (GGRF)
− Public Utility Regulatory Policies Act (PURPA)
− Section 1603 Grants (American Recovery and Reinvestment Act of 2009)
4.12 Regulatory Authorities
4.13 Solar PV Market, the US, Major Manufacturers
5 Solar PV Market, Brazil
5.1 Overview
5.2 Solar PV Market, Brazil, Installed Capacity, 2015–2035
5.3 Solar PV Market, Brazil, Annual Capacity Addition by Segment
5.4 Solar PV Market, Brazil, Electricity Generation, 2015–2035
5.5 Solar PV Market, Brazil, Major Plants
5.6 Solar PV Market, Brazil, Major Upcoming Plants
5.7 Upcoming Project Status Analysis, Brazil
5.8 Solar PV Market, Brazil, Deal Analysis
5.9 Solar PV Market, Brazil, Deals by Type, 2024
− Mergers and Acquisitions:
5.10 Solar PV Market, Brazil, Market Size, 2016–2035
5.11 Solar PV Market, Brazil, Imports and Exports, 2020–2024
5.12 Solar PV Market, Brazil, Drivers, and Challenges
− Solar PV Market, Brazil, Major Drivers
− Solar PV Market, Brazil, Major Challenges
5.13 Solar PV Market, Brazil, Major Manufacturers
6 Solar PV Market, China
6.1 Overview
6.2 Solar PV Market, China, Installed Capacity, 2015–2035
6.3 Solar PV Market, China, Annual Capacity Addition by Segment
6.4 Solar PV Market, China, Electricity Generation, 2015–2035
6.5 Solar PV Market, China, Major Plants
6.6 Solar PV Market, China, Major Upcoming Plants
6.7 Upcoming Project Status Analysis, China
6.8 Solar PV Market, China, Deal Analysis
6.9 Solar PV Market, China, Deals by Type, 2024
6.10 Solar PV Market, China, Market Size, 2016–2035
6.11 Solar PV Market, China, Imports and Exports, 2020–2023
6.12 Solar PV Market, China, Drivers and Challenges
− Solar PV Market, China, Major Drivers
− Solar PV Market, China, Major Challenges
6.13 Solar PV Market, China, Major Manufacturers
7 Solar PV Market, India
7.1 Overview
7.2 Solar PV Market, India, Installed Capacity, 2015–2035
7.3 Solar PV Market, India, Annual Capacity Addition by Segment
7.4 Solar PV Market, India, Electricity Generation, 2015–2035
7.5 Solar PV Market, India, Major Plants
7.6 Solar PV Market, India, Major Upcoming Plants
7.7 Upcoming Project Status Analysis, India
7.8 Solar PV Market, India, Deal Analysis
7.9 Solar PV Market, India, Deals by Type, 2024
7.10 Solar PV Market, India, Market Size, 2016–2035
7.11 Solar PV Market, India, Imports and Exports, 2020–2024
7.12 Solar PV Market, India, Drivers and Challenges
− Solar PV Market, India, Major Drivers
− Solar PV Market, India, Major Challenges
7.13 Solar PV Market, India, Major Manufacturers
8 Solar PV Market, Japan
8.1 Overview
8.2 Solar PV Market, Japan, Installed Capacity, 2015–2035
8.3 Solar PV Market, Japan, Annual Capacity Addition by Segment
8.4 Solar PV Market, Japan, Electricity Generation, 2015–2035
8.5 Solar PV Market, Japan, Major Plants
8.6 Solar PV Market, Japan, Upcoming Plants
8.7 Upcoming Projects Status Analysis, Japan
8.8 Solar PV Market, Japan, Deal Analysis
8.9 Solar PV Market, Japan, Deals by Type, 2024
8.10 Solar PV Market, Japan, Market Size, 2016–2035
8.11 Solar PV Market, Japan, Imports and Exports, 2020–2024
8.12 Solar PV Market, Japan, Drivers and Challenges
− Solar PV Market, Japan, Major Drivers
− Solar PV Market, Japan, Major Challenges
8.13 Solar PV Market, Japan, Major Manufacturers
9 Solar PV Market, Australia
9.1 Overview
9.2 Solar PV Market, Australia, Installed Capacity, 2015–2035
9.3 Solar PV Market, Australia, Annual Capacity Additions by Segment
9.4 Solar PV Market, Australia, Electricity Generation, 2015–2035
9.5 Solar PV Market, Australia, Major Plants
9.6 Solar PV Market, Australia, Upcoming Plants
9.7 Upcoming Projects Status Analysis, Australia
9.8 Solar PV Market, Australia, Deal Analysis
9.9 Solar PV Market, Australia, Deals by Type, 2024
9.10 Solar PV Market, Australia, Market Size, 2016–2035
9.11 Solar PV Market, Australia, Imports and Exports, 2020–2024
9.12 Solar PV Market, Australia, Drivers, and Challenges
− Solar PV Market, Australia, Major Drivers
− Solar PV Market, Australia, Major Challenges
9.13 Solar PV Market, Australia, Major Manufacturers
10 Solar PV Market, South Korea
10.1 Overview
10.2 Solar PV Market, South Korea, Installed Capacity, 2015–2035
10.3 Solar PV Market, South Korea, Annual Capacity Additions by Segment
10.4 Solar PV Market, South Korea, Electricity Generation, 2015–2035
10.5 Solar PV Market, South Korea, Major Plants
10.6 Solar PV Market, South Korea, Upcoming Plants
10.7 Upcoming Projects Status Analysis, South Korea
10.8 Solar PV Market, South Korea, Deal Analysis
10.9 Solar PV Market, South Korea, Deals by Type, 2024
10.10 Solar PV Market, South Korea, Market Size, 2016–2035
10.11 Solar PV Market, South Korea, Imports and Exports, 2020–2024
10.12 Solar PV Market, South Korea, Drivers, and Challenges
− Solar PV Market, South Korea, Major Drivers
− Solar PV Market, South Korea, Major Challenges
10.13 Solar PV Market, South Korea, Major Manufacturers
11 Solar PV Market, Germany
11.1 Overview
11.2 Solar PV Market, Germany, Installed Capacity, 2015–2035
11.3 Solar PV Market, Germany, Annual Capacity Additions by Segment
11.4 Solar PV Market, Germany, Electricity Generation, 2015–2035
11.5 Solar PV Market, Germany, Major Plants
11.6 Solar PV Market, Germany, Upcoming Plants
11.7 Upcoming Projects Status Analysis, Germany
11.8 Solar PV Market, Germany, Deal Analysis
11.9 Solar PV Market, Germany, Deals by Type, 2024
11.10 Solar PV Market, Germany, Market Size, 2016–2035
11.11 Solar PV Market, Germany, Imports and Exports, 2020–2024
11.12 Solar PV Market, Germany, Drivers, and Challenges
− Solar PV Market, Germany, Major Drivers
− Solar PV Market, Germany, Major Challenges
11.13 Solar PV Market, Germany, Major Manufacturers
12 Solar PV Market, Spain
12.1 Overview
12.2 Solar PV Market, Spain, Installed Capacity, 2015–2035
12.3 Solar PV Market, Spain, Annual Capacity Additions by Segment
12.4 Solar PV Market, Spain, Electricity Generation, 2015–2035
12.5 Solar PV Market, Spain, Major Plants
12.6 Solar PV Market, Spain, Upcoming Plants
12.7 Upcoming Projects Status Analysis, Spain
12.8 Solar PV Market, Spain, Deal Analysis
12.9 Solar PV Market, Spain, Deals by Type, 2024
12.10 Solar PV Market, Spain, Market Size, 2016–2035
12.11 Solar PV Market, Spain, Imports and Exports, 2020–2024
12.12 Solar PV Market, Spain, Drivers, and Challenges
− Solar PV Market, Spain, Major Drivers
− Solar PV Market, Spain, Major Challenges
12.13 Solar PV Market, Spain, Major Manufacturers
13 Solar PV Market, Italy
13.1 Overview
13.2 Solar PV Market, Italy, Installed Capacity, 2015–2035
13.3 Solar PV Market, Italy, Annual Capacity Additions by Segment
13.4 Solar PV Market, Italy, Electricity Generation, 2015–2035
13.5 Solar PV Market, Italy, Major Plants
13.6 Solar PV Market, Italy, Upcoming Plants
13.7 Upcoming Projects Status Analysis, Italy
13.8 Solar PV Market, Italy, Deal Analysis
13.9 Solar PV Market, Italy, Deals by Type, 2024
13.10 Solar PV Market, Italy, Market Size, 2016–2035
13.11 Solar PV Market, Italy, Imports and Exports, 2020–2024
13.12 Solar PV Market, Italy, Drivers, and Challenges
− Solar PV Market, Italy, Major Drivers
− Solar PV Market, Italy, Major Challenges
13.13 Solar PV Market, Italy, Major Manufacturers
14 Solar PV Market, France
14.1 Overview
14.2 Solar PV Market, France, Installed Capacity, 2015–2035
14.3 Solar PV Market, France, Annual Capacity Additions by Segment
14.4 Solar PV Market, France, Electricity Generation, 2015–2035
14.5 Solar PV Market, France, Major Plants
14.6 Solar PV Market, France, Upcoming Plants
14.7 Upcoming Projects Status Analysis, France
14.8 Solar PV Market, France, Deal Analysis
14.9 Solar PV Market, France, Deals by Type, 2024
14.10 Solar PV Market, France, Market Size, 2016–2035
14.11 Solar PV Market, France, Imports and Exports, 2020–2023
14.12 Solar PV Market, France, Drivers, and Challenges
− Solar PV Market, France, Major Drivers
− Solar PV Market, France, Major Challenges
14.13 Solar PV Market, France, Major Manufacturers
15 Solar PV Market, South Africa
15.1 Overview
15.2 Solar PV Market, South Africa, Installed Capacity, 2015–2035
15.3 Solar PV Market, South Africa, Electricity Generation, 2015–2035
15.4 Solar PV Market, South Africa, Major Plants
15.5 Solar PV Market, South Africa, Upcoming Plants
15.6 Upcoming Projects Status Analysis, South Africa
15.7 Solar PV Market, South Africa, Deal Analysis
15.8 Solar PV Market, South Africa, Deals by Type, 2024
15.9 Solar PV Market, South Africa, Market Size, 2016–2035
15.10 Solar PV Market, South Africa, Imports and Exports, 2020–2024
15.11 Solar PV Market, South Africa, Drivers, and Challenges
− Solar PV Market, South Africa, Major Drivers
− Solar PV Market, South Africa, Major Challenges
15.12 Solar PV Market, South Africa, Major Manufacturers
16 Solar PV Market, UAE
16.1 Overview
16.2 Solar PV Market, UAE, Installed Capacity, 2015–2035
16.3 Solar PV Market, UAE, Electricity Generation, 2015–2035
16.4 Solar PV Market, UAE, Major Plants
16.5 Solar PV Market, UAE, Upcoming Plants
16.6 Upcoming Projects Status Analysis, UAE
16.7 Solar PV Market, UAE, Deal Analysis
16.8 Solar PV Market, UAE, Deals by Type, 2024
16.9 Solar PV Market, UAE, Market Size, 2016–2035
16.10 Solar PV Market, UAE, Imports and Exports, 2020–2023
16.11 Solar PV Market, UAE, Drivers, and Challenges
− Solar PV Market, UAE, Major Drivers
− Solar PV Market, UAE, Major Challenges
16.12 Solar PV Market, UAE, Major Manufacturers
17 Appendix
17.1 Abbreviations
17.2 Market Definitions
17.3 Methodology
− Coverage
− Secondary Research
− Primary Research
− Modeling and Forecasting
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