Recording of Tuesday, May 06, 2025 | The smarter E Europe | Conference Program | Language: English | Duration: 16:02 .

China Drives Record Growth as Global Solar Market Heads Towards Seven Terawatt Capacity by 2030

The Global Solar Market Outlook 2025, backed by The smarter E! Intersolar and regional associations, highlights the robust growth of solar energy. By 2024, global installations hit around 600 gigawatts—surpassing forecasts—with China accounting for nearly half. Despite China's dominance, efforts to diversify are underway globally to boost decarbonization. While most top markets grew significantly led by China, regions like the Middle East and Africa faced stagnation due to project cycles impacting annual figures. The report notes rapid advancements since silicon solar cells' commercialization; reaching one terawatt took decades but doubling it occurred in just two years—a sign of accelerating adoption despite uneven distribution worldwide. Australia leads in per capita installations with Germany and Netherlands also notable; however major players like China have lower rates compared to Europe which remains a leader in metrics. Expected market growth is about 10% this year driven mainly by China even as its shift from fixed tariffs may temporarily slow progress until potential stagnation post-2026 amid adjustments. China's share will slightly decrease yet dominate half towards decade-end while other regions maintain shares except America possibly declining against increases elsewhere including Africa/Middle East where utility-scale projects prevail though residential gains traction amidst changing power prices during an ongoing crisis scenario projecting seven-terawatt capacity under medium scenarios through COP28 targets needing tripled renewable capacities globally wherein solar could reach near two-thirds within renewables sector overall come next decade end (2030).

_{Automated summarization by AI Conver}

Speaker

Michael Schmela
Executive Advisor
SolarPower Europe
Belgium

Talk of session: Stronger Together - Accelerating Global Solar Deployment Through Cooperation

Solar power - the world's most flexible energy generation technology - hit another record-breaking year of installations in 2024. But what does that success mean in an era of growing geopolitical tension and social division? As trade wars erupt and many political leaders roll back climate commitments, global demand for fossil fuels continues to rise. So how can the solar sector help address these challenges? This session brings together top industry leaders to explore how collaboration, shared learning and innovation can shape a strong, prosperous global solar market. This session will feature: Launch of Global Market Outlook (GMO) for Solar Power 2025-2029 Insights into solar's role in major global markets Views from leading solar associations on key opportunities and challenges in the world's largest solar markets.

Further Talks of this session:

Welcome & Introduction

Speaker

David Wedepohl
Managing Director International Affairs
BSW - German Solar Association
Germany

To Talk

Presentations & Panel Discussion: Is Solar on Track to Take the Leading Role in the Energy Transition?

Speaker

To Talk