Global Pv Installations May Hit 655 Gw This Year, Says Solarpower Europe

The world could install up to 655 GW of new PV capacity this year, according to the “Global Market Outlook for Solar Power 2025-2029” report, which was recently published by the SolarPower Europe industry association.

If confirmed, the result would mark 10% growth from 2024, when developers installed about 597 GW of new PV systems worldwide and global cumulative PV capacity reached 2.2 TW by the end of December.

The association outlined three scenarios for 2025: a “High Scenario” with up to 774 GW of new additions; a “Mid Scenario” with 655 GW, which the report’s authors called the most likely; and a “Low Scenario” projecting just 548 GW.

“This scenario underscores the risks posed by escalating trade conflicts, which could increase PV system costs, delay project pipelines, and deter investments in particular among more price-sensitive markets,” the report noted. “In the EU-27, the solar market could rapidly shift from stagnation to contraction in 2025, primarily if framework conditions are not swiftly and correctly implemented in the member states.”

SolarPower Europe said the “High Scenario” could materialize if low module prices persist, installation rates remain high, and the Chinese government ramps up PV deployment.

It said China will account for about 53% of new global installations in 2025, followed by the Asia-Pacific region excluding China at 16%, the Americas at 14%, Europe at 13%, and the Middle East and Africa at 4%.

The association also forecast 2.27 TW of new PV capacity could be installed between 2026 and 2028, down from its previous estimate of 2.34 TW.

“Our updated forecast still anticipates solid annual growth in the range of 10% to 14%, broadly in line with last year’s estimate of 12% to 13%,” the report stated. “However, 2026 stands out as a clear exception, with growth expected to slow to just 1%.”

The 2026 performance is predicted to be impacted by the transition from feed-in tariffs to feed-in premium tariffs in China, which should be felt from the second half of 2025, with project developers delaying investment decisions and revising their business models.

“Overall, our ‘Medium Scenario' projects the global PV market to reach 665 GW in 2026, up from 655 GW in 2025,” the report stated. “Looking further ahead, we expect annual additions to reach 755 GW in 2027, 847 GW in 2028, and 930 GW in 2029.”

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