International. According to The Global Energy Association, global solar power generation increased by 30% in 2024, exceeding 2,000 terawatt-hours (TWh).
The organization specified that, in absolute terms, the growth of solar energy reached 475 TWh, which is comparable to the annual energy consumption in France or Germany. In addition, Global Energy cited that the International Energy Agency (IEA) revealed that the share of solar energy increased from 5% to 7%.
The IEA expects global PV module generation to increase by 1,800 TWh per year between 2025 and 2027, making solar the second most important renewable energy source after wind turbines. The leap in the development of solar power generation is largely due to the reduction in the cost of technologies. According to the International Renewable Energy Agency (IRENA), the average cost of installing PV modules has fallen by 86% between 2010 and 2023, to $758 per kW of capacity. IRENA estimates that this is the lowest figure among renewables of all kinds, including hydropower plants ($2,806 per kW) and onshore and offshore wind turbines ($2,800 per kW and $1,160 per kW, respectively).
The convenience of using PV modules in everyday life is also a factor. For example, in the United States, the housing sector accounted for exactly 20% of installed solar panel capacity (36.9 GW out of 185.4 GW) in January 2025, partly thanks to tax incentives: when purchasing and installing PV modules, users can deduct 30% of the costs incurred from their tax obligations. In the United States, PV modules are also used for off-grid power supply in industry and the service sector, accounting for another 10% of installed solar capacity nationwide (18 GW).
Off-grid solar power generation does not require complex grid infrastructure, unlike wind power plants, whose operators are sometimes forced to suspend operations due to a lack of capacity. This is a problem that UK regulators in particular face: last year, they paid wind power plant operators more than £1 billion (more than $1.3 billion) for forced downtime.
In addition, solutions are appearing on the market that help balance the use of small photovoltaic modules and large solar power plants. Recent examples include the 1 kWh Yotta Block, a brick-shaped device that can be placed under a solar panel, as well as the Smartstack energy storage system (from the US company Fluence Energy), which can charge gas stations powered by photovoltaic modules.
