Global Solar Power Growth Surges in 2024

Global solar power is experiencing unprecedented growth, with 593 gigawatts expected to be installed by the end of 2024, marking a 29% increase from the previous year. This surge is driven by technology advancements, reduced costs, and substantial policy support such as the U.S. Inflation Reduction Act, which has significantly boosted solar and storage deployment. The U.S. solar industry alone installed a record 21.2 GW in the first half of 2024, and solar jobs increased by 6% last year to nearly 280,000. China, the US, India, Germany, and Brazil are leading this global expansion, with China expected to contribute 56% of the new capacity. Despite these gains, challenges such as grid connection delays and labor shortages persist.