Solar set to dominate global electricity by 2032, driven by megaprojects

A BloombergNEF New Energy Outlook predicts solar will become the world’s largest source of electricity by 2032, overtaking all other generation types. The forecast cites falling panel costs, a surge in battery storage – projected to grow 17‑fold to 3.8 TW by 2050 – and accelerating electrification of transport, data centres and industry. Electricity’s share of final energy is expected to rise from 21 % in 2025 to two‑thirds of new demand within the next two decades, making solar the dominant zero‑carbon fuel.

Large‑scale projects illustrate the trend. India’s Khavda Renewable Energy Park, led by Adani Green Energy, aims for 30 GW of combined solar‑wind capacity on a 200‑square‑mile site in Gujarat, already delivering 13 GW and hosting a 1.1‑GW/3.5‑GWh battery – one of the world’s biggest grid‑scale storage facilities. China’s Talatan Solar Park in Qinghai exceeds 17 GW, and other gigascale developments are emerging worldwide. These megaprojects, coupled with rapid battery deployment, are poised to cement solar’s leadership in global power generation.