Global Solar Council announces 2 terawatt milestone achieved for solar
November 8, London – The Global Solar Council leads the worldwide solar industry today in the celebration of achieving 2 TW of installed solar PV capacity against the backdrop of a Donald Trump presidency in the U.S. and a pivotal COP29 slated to begin next week in Baku, Azerbaijan.
The deployment of solar energy has exponentially accelerated in recent years, carrying with it dramatic cost reductions that make solar now the cheapest form of energy available to consumers in many countries across the globe.
It took the solar PV industry 68 years to reach 1 TW of installed capacity - from 1954-2022. It has taken only 2 years to reach the next TW (2022-2024), with the 2 TW milestone reached in recent weeks according to estimates calculated by the Global Solar Council and SolarPower Europe.
The milestone highlights how solar energy is becoming the backbone of the global energy system. Notably, 2 TW of solar is equivalent to the total installed electricity capacity of India, the USA and UK combined and could power an estimated one billion homes, based on a global average household energy consumption of 3,500 kWh per year and a 20% capacity factor.
