Global Solar Capacity Reaches 1,418 GW
POWER & RENEWABLE ENERGY

Global Solar Capacity Reaches 1,418 GW

The global solar energy capacity has soared to 1,418 gigawatts (GW), according to a recent report. This milestone highlights the rapid expansion of solar power, which continues to dominate renewable energy markets worldwide. The surge in solar installations comes as global investments in renewable energy reached a staggering $3.1 trillion. This demonstrates the growing commitment of governments, corporations, and private investors to clean and sustainable energy solutions.

The report indicates that the solar energy sector has made remarkable progress, driven by technological advancements, cost reductions, and supportive policies. With solar power now accounting for a substantial share of global electricity generation, it is increasingly seen as a key solution for addressing climate change and achieving net-zero emission targets. Over the past few years, both developed and developing countries have ramped up their efforts to scale up solar installations, providing significant funding for large-scale projects.

Moreover, investments in solar infrastructure are expected to continue rising, with a strong emphasis on enhancing efficiency and energy storage solutions to address intermittency challenges. As the global energy transition accelerates, solar power is anticipated to remain at the forefront of clean energy development, contributing to a more sustainable energy future.

The continued growth of solar capacity reflects the sector’s pivotal role in meeting rising global energy demands while reducing dependency on fossil fuels. With governments focusing on long-term clean energy policies, the solar market is expected to see further expansion, making it a cornerstone of global energy infrastructure for years to come.

The global solar energy capacity has soared to 1,418 gigawatts (GW), according to a recent report. This milestone highlights the rapid expansion of solar power, which continues to dominate renewable energy markets worldwide. The surge in solar installations comes as global investments in renewable energy reached a staggering $3.1 trillion. This demonstrates the growing commitment of governments, corporations, and private investors to clean and sustainable energy solutions. The report indicates that the solar energy sector has made remarkable progress, driven by technological advancements, cost reductions, and supportive policies. With solar power now accounting for a substantial share of global electricity generation, it is increasingly seen as a key solution for addressing climate change and achieving net-zero emission targets. Over the past few years, both developed and developing countries have ramped up their efforts to scale up solar installations, providing significant funding for large-scale projects. Moreover, investments in solar infrastructure are expected to continue rising, with a strong emphasis on enhancing efficiency and energy storage solutions to address intermittency challenges. As the global energy transition accelerates, solar power is anticipated to remain at the forefront of clean energy development, contributing to a more sustainable energy future. The continued growth of solar capacity reflects the sector’s pivotal role in meeting rising global energy demands while reducing dependency on fossil fuels. With governments focusing on long-term clean energy policies, the solar market is expected to see further expansion, making it a cornerstone of global energy infrastructure for years to come.

Next Story
Infrastructure Energy

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Next Story
Infrastructure Urban

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Next Story
Infrastructure Energy

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?