Global solar capacity surpasses three-terawatt milestone

Global solar photovoltaic capacity has surpassed the three-terawatt milestone, marking a period of rapid acceleration in renewable energy deployment. While it took ten years to reach the first terawatt after 2012, the second terawatt was added in less than three years, and the third followed in less than two years.

Data from BloombergNEF indicates that China has become the primary driver of this global expansion, shifting the leadership from wealthy nations that initially subsidized solar technology to China. While global capacity is growing at an unprecedented rate, the share of installations in developing countries has remained stagnant since 2020. However, certain nations such as Pakistan, Nigeria, and the Philippines have recently seen significant increases in rooftop solar capacity.