Market Surveys Prove Tremendous Growth of Renewables

News – July 29, 2024

The deployment of renewable sources of energy is picking up speed around the world. The impressive results of several market surveys recently presented at The smarter E Europe 2024 are testament of this growth. Photovoltaics (PV) and storage systems in particular are experiencing dynamic growth, and the trend goes towards the combination of the two technologies. The number of large-scale PV power plants is growing rapidly, as is the number of residential, commercial and industrial PV installations combined with storage systems:

  • In 2023, the global annual PV deployment increased by 87 percent over the previous year.
  • In 2023, 447 gigawatts of new solar systems were installed, up from 239 GW in 2022. The total global solar capacity is now at 1.6 TW.
  • China took the lead in global solar deployment, installing 57 percent of the world’s PV installations in 2023.
  • The world is set to reach a total capacity of 2 TW this year, having passed the 1 TW mark as recently as 2022.

You can learn everything about the most important markets, sectors and developments of the PV and battery storage market in these three market surveys that are now available for download at The smarter E Digital :

Global Market Outlook for Solar Power 2024–2028

SolarPower Europe’s annual, award-winning Global Market Outlook for Solar Power is the most important market analysis for the global solar electricity sector. This report is essential for the solar industry and all players in the energy sector.

Full survey

European Market Outlook for Battery Storage 2024–2028

SolarPower Europe’s annual European market outlook for battery storage systems illustrates the state of battery storage in Europe, with recent figures on the annual and total installed capacities until 2023 and a forecast of future installations in three scenarios until 2028.

Full survey

The German PV and Battery Storage Market

This study is the first of its kind to provide an overview of the photovoltaics and battery storage markets in Germany. It provides the latest statistics on the PV market, battery storage systems and on an analysis of current support schemes in Germany.

Full survey

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