Total solar capacity set to exceed 7 TW by 2030, increasing the technology’s contribution to the global 11 TW renewable target by 2030

Cumulative solar PV capacity is expected to exceed most energy analysts’ forecasts by 2030. If the solar market trajectory continues as projected, total global solar installations are set to triple over the next five years, surpassing 6 TW by 2029 in the Medium Scenario. By extrapolating this trajectory to 2030, total solar capacity will stand at 7.1 TW by the end of the decade. The Global Solar Council has set an aspirational target of 8 TW of total installed capacity by 2030, which is within our High Scenario projection for that year; however, the Medium Scenario falls behind this target, showing that decision-makers need to fast-track solar deployment in their markets (see Policy Recommendations at p. 56).

Crossing the 7 TW level positions solar PV as the primary driver in meeting the COP28 Dubai goal to triple renewable energy capacity to 11 TW by 2030. Based on our projections, PV will account for about 65% of the renewable capacity needed to achieve the target, up significantly from its 46% share of total renewable capacity in 2024 (see Fig. 6).

Global Market Outlook for Solar Power 2025-2029

6 May 2025