PV Additions

Solar Photovoltaic (PV)

 

Solar PV is currently the fastest growing renewable energy sector.  Key features include (end of 2025) [IEA-PVPS, 2026]:

  

• The world added btw 608-698 GW in 2025, raising total capacity to ~3 GW:

  • ~60% were centralized (mostly utility-scale) and ~40% were distributed, connected to local consumption.

• China accounted for nearly 60% of all new installations, adding 415 GW of solar in 2025 (vs 357 GW in 2024 and 277 GW in 2023).​

• Growth outside China continued, with the European Union, the U.S. and India.

• European Union installed 65.7 GW (406 GW cumulative).

• India installed 55.9 GW (180.5 GW cumulative).

• U.S. held onto 2nd, with 43.2 GW (268.2 GW cumulative).

• Germany installed 16.9 GW (117.3 GW cumulative).

• Brazil installed 13.8 GW (66 GW cumulative).

  • By Aug/25, total operational capacity reached 60 GW (42.1 GW of DG and 17.9 GW of utility-scale).  PV is now the country’s 2nd-largest power source, with 23.5% of installed capacity [ABSOLAR, 2025].

• China accounted for 79% (~570 GW) of global PV module production in 2025, followed by India (~6%, 45 GW);  China’s share fell from 86% in 2024 as manufacturing expanded outside China.

• In 2024, 98% of global PV shipments were mono c-Si (monocrystalline silicon), up from 35% in 2015, according to NREL, 2025.

• Solar’s next growth phase will increasingly focus on optimising land use, with floating solar, agrivoltaics and other dual-use configurations enabling continued large-scale deployment.

​​

Figure 1 lists the top 5 global solar PV markets in 2025 in terms of installations & cumulative capacity. Figure 2 shows the top 10 global solar PV markets in terms of PV additions over 2022–23 period. Figure 3 shows the LCOE progress btw 2010-20, and the 2030 targets for solar PV & CSP in U.S., w/o the investment tax credit or state/local incentives.  Figure 4 shows solar module prices by manufacturing location, showing that China’s cost advantage will continue to drive down solar prices.

​  

Concentrated Solar Power (CSP)

 

After grew five-fold globally btw 2010-2019 [Helios CSP, 2020], global Concentrated Solar Power (CSP) installed capacity reached around 6.4 GW in 2022, with 1.3 GW under construction.  Spain embraced CSP tech in 2008 and remains the world leader (see here its plants), followed by the U.S. and China [NREL, 2023].

​

Global PV module manufacturers - H1 2025:

  

1. JinkoSolar (China): >41 GW

2. LONGi Green Energy (China): 2nd

3. JA Solar (China) & Trina Solar (China): tied for 3rd

4. Tongwei (China)