The solar photovoltaic (PV) market has seen enormous growth in recent years. In 2022, the global new installed PV capacity was about 239 gigawatts. The newly installed solar PV capacity was the highest in Asia Pacific region that year.
One of the main reasons for solar’s dominance is due to decreasing generation costs. However, prices can vary by region, where solar power prices tend to be much higher in developing countries than in other countries. The growth in the solar market represents a shift of global markets towards renewable and distributed energy technologies.
Global new installed solar PV capacity from 2000 to 2022
(in megawatts)
Characteristic
New installed capacity in megawatts
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SolarPower Europe. (June 30, 2023). Global new installed solar PV capacity from 2000 to 2022 (in megawatts) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/280200/global-new-installed-solar-pv-capacity/
SolarPower Europe. "Global new installed solar PV capacity from 2000 to 2022 (in megawatts)." Chart. June 30, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/280200/global-new-installed-solar-pv-capacity/
SolarPower Europe. (2023). Global new installed solar PV capacity from 2000 to 2022 (in megawatts). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/280200/global-new-installed-solar-pv-capacity/
SolarPower Europe. "Global New Installed Solar Pv Capacity from 2000 to 2022 (in Megawatts)." Statista, Statista Inc., 30 Jun 2023, https://www.statista.com/statistics/280200/global-new-installed-solar-pv-capacity/
SolarPower Europe, Global new installed solar PV capacity from 2000 to 2022 (in megawatts) Statista, https://www.statista.com/statistics/280200/global-new-installed-solar-pv-capacity/ (last visited July 22, 2024)
Global new installed solar PV capacity from 2000 to 2022 (in megawatts) [Graph], SolarPower Europe, June 30, 2023. [Online]. Available: https://www.statista.com/statistics/280200/global-new-installed-solar-pv-capacity/