Global Markets
Identifying solar business opportunities in new, high profile and thriving markets
Solar is one of the most equitably distributed energy resources in the world. All countries have access to sunlight regardless of population, surface area, or economic wealth. As one of the cheapest sources of electricity, solar can make a significant contribution to the socio-economic development of states in the Global South. This applies, in particular, with regard to Sustainable Development Goal (SDG) 7, universal access to affordable, reliable, sustainable and modern energy, and SDG 13, taking urgent action to combat climate change and its impacts.
Today many global markets are outpacing more established ones with the rate of their solar scale-up. However, some high-potential markets still lack the capital and infrastructure for large-scale deployment. There are several programmes and financing tools that aim to boost investor confidence in projects in global markets and, now more so than ever, the political will exists to encourage solar deployment and market development on a global scale.
Solar can be deployed quickly to satisfy the energy demands of the 759 million people without access to electricity today.
In 2019 the Sub-Saharan African solar market more than doubled in size, adding nearly 1.3 GW of installations and reaching gigawatt scale for the first time.
Vietnam installed a total of 11.6 GW of solar in 2020, making it the third largest annual market in the world.
By 2024 India is expected to reach 100 GW of installed solar capacity, adding 19 GW in both 2023 and 2024.
The Global Markets workstream
The Global Markets workstream
Solar is one of the most equitably distributed energy resources in the world. All countries have access to sunlight regardless of population, surface area, or economic wealth. As one of the cheapest sources of electricity, solar can make a significant contribution to the socio-economic development of states in the Global South. This applies, in particular, with regard to Sustainable Development Goal (SDG) 7, universal access to affordable, reliable, sustainable and modern energy, and SDG 13, taking urgent action to combat climate change and its impacts.
Today many global markets are outpacing more established ones with the rate of their solar scale-up. However, some high-potential markets still lack the capital and infrastructure for large-scale deployment. There are several programmes and financing tools that aim to boost investor confidence in projects in global markets and, now more so than ever, the political will exists to encourage solar deployment and market development on a global scale.
"The Global Markets workstream looks at new opportunities for business and cooperation in the solar industry, globally, while continuing to drive the energy transition."
The International Solar Manufacturing Initiative
The global market for clean energy technologies is set to be worth $2 trillion USD by 2035, generating significant commercial possibilities for European solar products at home and abroad. To facilitate exchanges between the European Commission, Development Finance Institutions (DFIs), Export Credit Agencies (ECAs), and European solar manufacturers SolarPower Europe has launched the International Solar Manufacturing Initiative (ISMI).
Discover the work of ISMI
Global Markets workstream Chair
Global Markets workstream Vice Chair
Members of the Global Markets workstream
