About Solar

Solar is at the heart of a just and sustainable world

Solar power is now a mainstream source of energy in many countries across the globe, helping to deliver carbon reductions, energy access, energy security, jobs, economic opportunities and much more.

From rooftop solar, to utility-scale projects - discover more about the transformative power of solar below!

Key solar facts

As of 2023

1.2TW

of solar is installed across the world
Around

US$1bn

is being investing in solar every day
Nearly

5 million

people work in the solar industry globally
By 2030

8TW

of solar capacity could be installed

Solar power is leading the energy transition.

To meet the ambitious goal of tripling global renewable energy capacity established at COP28, solar PV will need to provide over half of the clean energy GW’s needed to stay on a 1.5C pathway. Looking ahead to a 100% renewable energy system, solar power would need to make up ⅓ to ⅔ of the world’s energy capacity, the most out of any other renewable energy technology.

Aerial view of solar on industrial building

Solar growth is unstoppable

Year after year, solar continues to break records. Since 2004, solar has been the fastest growing energy source worldwide, averaging around 25% year-on-year growth. Industry forecasts show that there are no signs of slowing down, with solar now growing faster than fossil fuels. IIn 2023, solar added more than twice as much new electricity as coal - a clear sign that the world is embracing the solar revolution.

Solar is the most affordable source of energy

Solar is already one of the cheapest forms of energy in many countries, and this trend is expected to continue. Thanks to a surge in deployment and innovation, the costs of solar have plummeted by over 90% since 2009. Distributed PV can also offer consumers an opportunity to become energy independent and lower their energy bills.

Family in rural Africa holding solar panel

Solar is a reliable source of energy for everyone

Over 760 million people still live without energy access today, creating a massive barrier to sustainable development. Thanks to solar’s quick deployment, low costs, resilience, and flexibility, it is a key solution to boost energy access and security. By providing decentralized and local energy solutions from off-grid, small and large-scale installations, solar can help people, businesses and countries move away from costly fossil fuels and energy systems increasingly impacted by extreme climate events and geopolitical issues.

Solar contributes to higher living standards in everyday life

Through cost competitive electricity access and creation of regional value chains, solar can significantly improve living conditions, especially in emerging markets. By enhancing local job creation and limiting fossil fuels uses, solar improves household incomes, energy access and air quality, to empower people and communities across the world.