In 2024, net solar power generation in the United States reached its highest point yet at 218.5 terawatt hours of solar thermal and photovoltaic (PV) power. Solar power generation has increased drastically over the past two decades, especially since 2011, when it hovered just below two terawatt hours. The U.S. solar industry In the United States, an exceptionally high number of solar-related jobs are based in California. With a boost from state legislation, California has long been a forerunner in solar technology. In the second quarter of 2024, it had a cumulative solar PV capacity of more than 48 gigawatts. Outside of California, Texas, Florida, and North Carolina were the states with the largest solar PV capacity. Clean energy in the U.S. In recent years, solar power generation has seen more rapid growth than wind power in the United States. However, among renewables used for electricity, wind has been a more common and substantial source for the past decade. Wind power surpassed conventional hydropower as the largest source of renewable electricity in 2019. While there are major environmental costs often associated with the construction and operation of large hydropower facilities, hydro remains a vital source of electricity generation for the United States.

Solar Energy Index fell to 37.90 USD on July 11, 2025, down 1.79% from the previous day. Over the past month, Solar Energy Index's price has risen 11.14%, but it is still 15.02% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. This dataset includes a chart with historical data for Solar Energy Index.

Since 2009, global solar energy production continuously rose to its peak, at over *** petawatt hours in 2022. This represents an increase of roughly **** percent from the previous year. Overall, figures increased by more than *** petawatt hours in the period of consideration.

The solar energy capacity in the south Asian country of India peaked at some **** gigawatts in 2024, an increase from a capacity of nearly ** gigawatts in the previous year. In the period of consideration, figures presented a trend of continuous growth.

Renewable energy consumption (% of total final energy consumption) in Pakistan was reported at 41.6 % in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. Pakistan - Renewable energy consumption (% of total final energy consumption) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

The UK's energy use from renewable and waste sources, by source (for example, hydroelectric power, wind, wave, solar, and so on) and industry (SIC 2007 section - 21 categories), 1990 to 2023.

Historical chart and dataset showing Germany renewable energy by year from 1990 to 2021.

Renewable energy consumption (% of total final energy consumption) in United States was reported at 10.9 % in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. United States - Renewable energy consumption (% of total final energy consumption) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

In this dataset the anther's analysis is based on data from NREL about Solar & Wind energy generation by operation areas.

NASA Prediction of Worldwide Energy Resources

Solar

Monthly averages for global horizontal radiation over 22-year period (Jul 1983

• Jun 2013)

Wind

Monthly average wind speed at 50m above the surface of earth over a 30-year period (Jan 1984 - Dec 2013)Year: Averaged Over 10 to 15 years

COA = central operating area.

EOA = eastern operating area.

SOA = southern operating area.

WOA = western operating area. Source: NRELSource Link

This table expresses the use of renewable energy as gross final consumption of energy. Figures are presented in an absolute way, as well as related to the total energy use in the Netherlands. The total gross final energy consumption in the Netherlands (the denominator used to calculate the percentage of renewable energy per ‘Energy sources and techniques’) can be found in the table as ‘Total, including non-renewables’ and Energy application ‘Total’. The gross final energy consumption for the energy applications ‘Electricity’ and ‘Heat’ are also available. With these figures the percentages of the different energy sources and applications can be calculated; these values are not available in this table. The gross final energy consumption for ‘Transport’ is not available because of the complexity to calculate this. More information on this can be found in the yearly publication ‘Hernieuwbare energie in Nederland’.

Renewable energy is energy from wind, hydro power, the sun, the earth, heat from outdoor air and biomass. This is energy from natural processes that is replenished constantly.

The figures are broken down into energy source/technique and into energy application (electricity, heat and transport).

This table focuses on the share of renewable energy according to the EU Renewable Energy Directive. Under this directive, countries can apply an administrative transfer by purchasing renewable energy from countries that have consumed more renewable energy than the agreed target. For 2020, the Netherlands has implemented such a transfer by purchasing renewable energy from Denmark. This transfer has been made visible in this table as a separate energy source/technique and two totals are included; a total with statistical transfer and a total without statistical transfer.

Figures for 2020 and before were calculated based on RED I; in accordance with Eurostat these figures will not be modified anymore. Inconsistencies with other tables undergoing updates may occur.

Data available from: 1990

Status of the figures: This table contains definite figures up to and including 2022, figures for 2023 are revised provisional figures and figures for 2024 are provisional.

Changes as of june 2025: Figures for 2024 have been added.

Changes as of January 2025 Renewable cooling has been added as Energy source and technique from 2021 onwards, in accordance with RED II. Figures for 2020 and earlier follow RED I definitions, renewable cooling isn’t a part of these definitions.
The energy application “Heat” has been renamed to “Heating and cooling”, in accordance with RED II definitions. RED II is the current Renewable Energy Directive which entered into force in 2021

Changes as of November 15th 2024 Figures for 2021-2023 have been adjusted. 2022 is now definitive, 2023 stays revised provisional. Because of new insights for windmills regarding own electricity use and capacity, figures on 2021 have been revised.

Changes as of March 2024: Figures of the total energy applications of biogas, co-digestion of manure and other biogas have been restored for 2021 and 2022. The final energy consumption of non-compliant biogas (according to RED II) was wrongly included in the total final consumption of these types of biogas. Figures of total biogas, total biomass and total renewable energy were not influenced by this and therefore not adjusted.

When will new figures be published? Provisional figures on the gross final consumption of renewable energy in broad outlines for the previous year are published each year in June. Revised provisional figures for the previous year appear each year in June.

In November all figures on the consumption of renewable energy in the previous year will be published. These figures remain revised provisional, definite figures appear in November two years after the reporting year. Most important (expected) changes between revised provisional figures in November and definite figures a year later are the figures on solar photovoltaic energy. The figures on the share of total energy consumption in the Netherlands could also still be changed by the availability of adjusted figures on total energy consumption.

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Solar Panels Market Size 2025-2029

The solar panels market size is forecast to increase by USD 60.1 billion, at a CAGR of 8.2% between 2024 and 2029.

The market is witnessing significant growth, driven by increasing investments in the renewable energy sector. This trend is fueled by governments and businesses worldwide seeking to reduce carbon emissions and promote sustainable energy solutions. Another key driver is the continuous advancements in thin-film solar photovoltaic (PV) modules, making solar energy more cost-effective and accessible. However, the intermittent nature of solar power poses a significant challenge. Solar energy production depends on sunlight availability, which can be unpredictable. This variability necessitates efficient energy storage solutions and smart grid management systems to ensure a consistent energy supply. Companies in the market must focus on developing innovative technologies to address this challenge and capitalize on the growing demand for renewable energy. By investing in research and development, collaborating with energy storage providers, and optimizing solar panel designs, companies can effectively navigate this market landscape and seize opportunities for growth.

What will be the Size of the Solar Panels Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free SampleThe market continues to evolve, driven by technological advancements and expanding applications across various sectors. Off-grid systems, once a niche application, are increasingly gaining traction as an alternative power solution. Thin-film solar panels, with their flexibility and lower manufacturing costs, are finding new uses in solar powered appliances and buildings. Silicon wafer technology, a mainstay in solar panel manufacturing, faces competition from emerging alternatives. Solar powered refrigeration systems are revolutionizing cold storage solutions, while solar tracking systems optimize panel efficiency. Commercial solar adoption is on the rise, with businesses recognizing the cost savings and sustainability benefits. Solar panel warranty and performance degradation are key considerations for investors and consumers alike. Solar panel manufacturing processes are continuously improving, with a focus on reducing costs and increasing efficiency. Solar energy storage and solar energy policy are crucial components of the renewable energy landscape. Industrial solar applications are expanding, from powering factories to providing clean energy for heavy industry. Solar panel maintenance and cleaning are essential for maximizing system performance and longevity. Battery energy storage and net metering are transforming the way we store and distribute solar energy. Solar farm development and ground-mounted solar installations are shaping the future of utility-scale solar. Solar powered electronics, from calculators to smartphones, are becoming increasingly common. Solar powered homes and solar powered buildings are the future of sustainable living. The market is a dynamic and evolving landscape, with endless possibilities.

How is this Solar Panels Industry segmented?

The solar panels industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. End-userPower utilitiesCommercialResidentialTypeCrystalline panelThin-film panelConnectivityOn-gridOff-gridTechnologySolar PVConcentrated solar power (CSP)GeographyNorth AmericaUSCanadaEuropeFranceGermanyItalyUKAPACChinaIndiaJapanSouth KoreaRest of World (ROW).

By End-user Insights

The power utilities segment is estimated to witness significant growth during the forecast period.The solar panel market experienced significant growth in 2024, with the power utility segment leading the way. Utility-scale solar power plants continued to expand, contributing to the reduction of carbon emissions and the generation of clean energy. According to the International Energy Agency (IEA), renewable capacity additions reached record levels in 2024, with solar photovoltaics (PV) accounting for around 80% of the growth in renewable electricity capacity. China, the US, Germany, Japan, and India were among the major contributors to the utility segment. For instance, China installed 277 GW of solar capacity in 2024, as reported by the National Energy Administration (NEA). Residential solar installations also gained traction, with homeowners seeking to save on energy costs and reduce their carbon footprint. Solar panel financing options, such as leasing and power purchase agreements, made solar adoption more accessible. Solar panel costs continued to decline, making solar energy a cost-effective solution for both

China's solar power generation reached nearly approximately *** terawatt hours in 2024. Compared to the previous year, solar power capacity in China increased by ** percent in 2023.

The Report Covers Pakistan Solar Energy Market Report Size & Share and It is Segmented by End Users (Residential, Commercial, and Utility). The Report Offers the Market Size and Forecasts in Installed Capacity (MW) for the Above Segment.

This scatter chart displays renewable energy consumption (% of total final energy consumption) against fossil fuel energy consumption (% of total) in the United States. The data is about countries per year.

Sri Lanka: Solar electricity generation, billion kilowatthours: The latest value from 2023 is 0.8 billion kilowatthours, an increase from 0.72 billion kilowatthours in 2022. In comparison, the world average is 8.63 billion kilowatthours, based on data from 188 countries. Historically, the average for Sri Lanka from 1980 to 2023 is 0.08 billion kilowatthours. The minimum value, 0 billion kilowatthours, was reached in 1980 while the maximum of 0.8 billion kilowatthours was recorded in 2023.

Prices for Solar Energy Index including live quotes, historical charts and news. Solar Energy Index was last updated by Trading Economics this July 5 of 2025.

Historical chart and dataset showing Bangladesh renewable energy by year from 1990 to 2021.

This dataset includes information on completed and pipeline (not yet installed) solar electric projects supported by the New York State Energy Research and Development Authority (NYSERDA). Blank cells represent data that were not required or are not currently available. Contractor data is provided for completed projects only, except for Community Distributed Generation projects. Pipeline projects are subject to change. The interactive map at https://data.ny.gov/Energy-Environment/Solar-Electric-Programs-Reported-by-NYSERDA-Beginn/3x8r-34rs provides information on solar photovoltaic (PV) installations supported by NYSERDA throughout New York State since 2000 by county, region, or statewide. Updated monthly, the graphs show the number of projects, expected production, total capacity, and annual trends.

The New York State Energy Research and Development Authority (NYSERDA) offers objective information and analysis, innovative programs, technical expertise, and support to help New Yorkers increase energy efficiency, save money, use renewable energy, and reduce reliance on fossil fuels. To learn more about NYSERDA’s programs, visit https://nyserda.ny.gov or follow us on X, Facebook, YouTube, or Instagram.

This dataset provides future supply curves representing the total resource potential for land-based wind and solar photovoltaic (PV) deployment in the conterminous United States after accounting for the impact of land-use and land-cover change (LULC). We use LULC projections from 2010 to 2050 developed based on the Intergovernmental Panel on Climate Change (IPCC) Special Report on Emission Scenarios. The LULC projections are subsequently fed into the renewable energy potential model (reV), which estimates total available wind and solar capacity after excluding non-developable land. Supply curves are provided for four IPCC scenarios in 2050: A1B, A2, B1, and B2. As a baseline, we also provide the supply curve from the B2 scenario in 2010. In addition to the supply curves, we also provide representative wind and solar generation profiles for each supply curve point. These generation profiles are provided as capacity factors and are based on a 2012 weather year using NSRDB and WindToolkit resource data. For more details on the supply curve and profile datasets included here please refer to README. Additional information on the supply curves and the LULC projections used to generate them, as well as an analysis of their impact on wind and solar deployment under decarbonization can be found in the publication linked below: "U.S. Wind and Solar PV Supply Curves with Future Land-use Change Publication".

Data are taken from the Microgeneration Certification Scheme - MCS Installation Database.

For enquiries concerning this table email fitstatistics@energysecurity.gov.uk.