Regarding global power generation, solar nearly doubled its share over the past 3 years, growing by 1.3 percentage points only last year to a 7% share in the world's electricity mix. This growth continued to drive renewable penetration and pushed additions of conventional electricity sources to a new low.
The Future of Solar Energy considers only the two widely recognized classes of technologies for converting solar energy into electricity — photovoltaics (PV) and concentrated solar power (CSP), sometimes called solar thermal) — in their current and plausible future forms.
We expect that solar electricity generation supplied to the grid managed by the Electric Reliability Council of Texas (ERCOT) will grow from 56 BkWh in 2025 to 106 BkWh by 2027. Increasing amounts of battery storage capacity help to support the fluctuations in solar output during the day.
Despite these headwinds, the global solar PV market is still expected to grow by 10% in 2025, reaching 655 GW under the Medium Scenario (see Fig. 4). This would mark a continuation of the deceleration trend following the extraordinary 85% growth in 2023 and the more moderate 33% in 2024.
As we approach a transformative period for the energy industry, The Future of Solar Energy in 2025 and Beyond signals a pivotal shift toward a cleaner, smarter, and more decentralized power system.
2024 was a record year for solar deployment as companies raced to cash in on lucrative tax treatments and subsidies offered by the Biden administration. Thirty-seven gigawatts of new
There is no doubt that solar power has become the driving force of the global energy transition. Looking ahead, however, there remain challenges that must be addressed for solar to
In this analysis, we examine the latest trends in installations, costs, and market dynamics, providing solar businesses, developers, and investors with a comprehensive picture of
Explore the future of solar in 2025—key trends, new tech, and policies driving global clean energy growth.
The EIA also forecasts significant growth in solar power generation, further validating the positive long-term prospects for the solar market. The upside scenario envisions a 6% CAGR, with
The Future of Solar Energy considers only the two widely recognized classes of technologies for converting solar energy into electricity — photovoltaics (PV) and concentrated solar power (CSP),
Policymakers in some of the world''s largest economies are reducing support for solar power generation. Even so, Goldman Sachs Research expects rapid growth in the sector, with global
2025 has been a challenging year for renewables. The new tax law, commonly referred to as the One Big Beautiful Bill Act, rolled back many clean energy tax credits and imposed new restrictions,
We expect the combined share of generation from solar power and wind power to rise from about 18% in 2025 to about 21% in 2027. In our STEO forecast, utility-scale solar is the fastest
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