The International Energy Agency (IEA) has projected that by 2024, at least 34 countries will host solar energy systems with a capacity exceeding 1 GW. This represents an increase from 29 countries in 2023. The IEA’s report, titled “Global Photovoltaic Market Outlook 2025“, indicates that the solar energy market is poised for significant expansion. The global installed solar capacity is expected to grow from 1.6 TW in 2023 to over 2.2 TW by 2024, with new installations surpassing 600 GW.
This growth is indicative of the increasing importance of solar technology within the global energy landscape. The report highlights a strong demand for solar energy, which is expected to continue driving the energy transition towards sustainable sources. The IEA anticipates that by the end of 2024, the total installed capacity for solar energy will have increased significantly, suggesting a robust market demand.
According to the report, countries like China will lead the way, with a projected installed capacity of 357.3 GW for new solar systems, which is a substantial increase from 277.57 GW in the previous year. This means that China alone will account for approximately 60% of the new global solar capacity. In Europe, countries such as Germany (with 16.7 GW) and the Netherlands (with 7.5 GW) will also contribute significantly to this growth.
In the United States, the solar market is projected to reach 47.1 GW by 2024, positioning the country third in terms of installed capacity. Meanwhile, Japan is expected to see an increase in capacity to 14.3 GW, totaling 52.1 GW overall. Within the Asia-Pacific region, significant growth is also anticipated, with countries like India and Australia contributing to the expansion of solar energy systems.
The IEA report emphasizes that the global solar market is not only growing in terms of capacity but also in its ability to meet rising energy demands, with over 25 countries expected to generate more than 10% of their energy needs from solar power by 2024. This shift highlights the ongoing transition towards renewable energy sources and the critical role of solar technology in achieving energy sustainability and security.
In conclusion, the trends and projections outlined by the IEA suggest a vibrant and expanding solar energy market that will play a crucial role in the global energy landscape for years to come.
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