Global Market Outlook for Solar Power 2023-27

The solar boom continues. The world installed 239 GW of solar in 2022, 45% more than installed in 2021.

2023 will bring between 341 GW – and up to 402 GW – of new solar to the world.

The globe crossed 1.2 TW of solar capacity in 2022, and is moving toward an annual 1 TW market by 2030. International solar installations will reach up to 800 GW by 2027 already.

GW-scale annual markets are growing. In 2021 only 17 countries installed over 1 GW, in 2022 that number increased to 26 true solar nations.

Solar powers people – rooftop solar installations grew by 49%. From 79 GW of installations in 2021 to 118 GW in 2023. That means the equivalent of 36 million more homes were powered by solar by the end of 2022. The rooftop boom will continue in 2023, with another 159 GW set to be installed.

Read the report here.