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.
Percentage of new installed solar PV capacity worldwide in 2023, by country
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REN21. (June 11, 2024). Percentage of new installed solar PV capacity worldwide in 2023, by country [Graph]. In Statista. Retrieved November 24, 2024, from https://www.statista.com/statistics/271448/distribution-of-newly-installed-solar-capacity-by-country/
REN21. "Percentage of new installed solar PV capacity worldwide in 2023, by country." Chart. June 11, 2024. Statista. Accessed November 24, 2024. https://www.statista.com/statistics/271448/distribution-of-newly-installed-solar-capacity-by-country/
REN21. (2024). Percentage of new installed solar PV capacity worldwide in 2023, by country. Statista. Statista Inc.. Accessed: November 24, 2024. https://www.statista.com/statistics/271448/distribution-of-newly-installed-solar-capacity-by-country/
REN21. "Percentage of New Installed Solar Pv Capacity Worldwide in 2023, by Country." Statista, Statista Inc., 11 Jun 2024, https://www.statista.com/statistics/271448/distribution-of-newly-installed-solar-capacity-by-country/
REN21, Percentage of new installed solar PV capacity worldwide in 2023, by country Statista, https://www.statista.com/statistics/271448/distribution-of-newly-installed-solar-capacity-by-country/ (last visited November 24, 2024)
Percentage of new installed solar PV capacity worldwide in 2023, by country [Graph], REN21, June 11, 2024. [Online]. Available: https://www.statista.com/statistics/271448/distribution-of-newly-installed-solar-capacity-by-country/