Global Solar Power Surges, Doubling Capacity by 2024 Amid Energy Transition

In the decade since the Paris Agreement, renewable energy—particularly solar power—has expanded far beyond initial forecasts, with solar capacity growing 1,500% more than expected and now accounting for a significant portion of global electricity generation. Reports from the Energy & Climate Intelligence Unit and Statkraft highlight that rapid cost declines in solar, wind, and batteries are driving a decisive shift away from fossil fuels, positioning renewables to exceed 50% of global power by 2035 and potentially limit warming to around 2 degrees Celsius. The surge in electric vehicle adoption, increased investment in renewables, and legally mandated net zero targets by governments and corporations underline the structural progress made toward emission reductions. However, experts caution that despite these advances, the pace of decarbonization must accelerate further to meet the Paris goals, as some sectors like heavy industry and long-distance transport remain challenging. International initiatives, such as the International Solar Alliance, are transitioning from aspirational policies to tangible solar projects, especially in developing regions like Africa, leveraging digitization and AI to expand solar infrastructure. With solar power being the cheapest and most scalable energy source globally, it holds the potential to supply an ever-growing share of global energy demand, possibly powering the world much sooner than anticipated.