Solar PV capacity - new installations worldwide by country 2023

In 2023, China installed the largest share of the world’s new solar photovoltaic (PV) capacity, at 58 percent of the total capacity. In comparison, the United States installed 8 percent of the world’s 360 gigawatts of capacity additions, the country's additions of photovoltaic systems totaled 235 gigawatts in that year.

Viability of global solar technology

Global cumulative installed solar PV capacity stood at 1,624 gigawatts in 2023, in comparison to some 1.3 gigawatts at the beginning of this century. Solar is one of the fastest growing energy technologies in the global market as the average cost of using solar PV has decreased over the years. The reduction in costs has made it one of the most competitive options for residential and commercial markets, as well as utility projects. Addressing policy, regulatory instability, as well as financial challenges will be essential for the further integration of solar PV into global electricity generation.