- Historic achievement: Global solar capacity surpasses 2 terawatts, with more added in the last two years than in the previous 68 combined.
- New financial push: The Global Solar Council plans to launch an International Solar Finance group at upcoming U.N. talks to boost funding.
- Ambitious 2030 goal: The council aims for 8 TW of installed solar power by 2030, making significant progress toward the U.N. renewable energy targets.
Record-Breaking Solar Capacity
Global solar capacity has reached a historic 2 terawatts (TW), according to exclusive data from the Global Solar Council shared with Reuters. This figure represents a surge in solar power deployment, with the last two years alone contributing more capacity than the previous 68 years combined.
Comprehensive Data Analysis
The updated figures provide the most comprehensive insight yet, including small rooftop installations that are often absent from government records. “Governments often don’t have the full picture in terms of solar because they’re often missing a lot of the small rooftop projects,” said Sonia Dunlop, CEO of the Global Solar Council.
The Path to 2030
With the new 2 TW milestone, global solar capacity can now power approximately 92 million U.S. households. To further accelerate growth, the council aims for 8 TW of solar power by 2030—over half of the renewable energy needed to meet the U.N. goal set at climate talks last year.
Financial Initiatives for Expansion
To reach this goal, the council will launch an International Solar Finance group at the U.N. talks starting Nov. 11 in Baku. This initiative will connect financing bodies to lower the cost of capital in developing regions from 15% to 5%.
The data, collected with SolarPower Europe, highlighted that 60% of the 2 TW capacity comes from ground-mounted solar farms, while 40% is from rooftop installations.
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