global market outlook

The world’s total solar capacity will reach 2,044GW by 2031, with China continuing to lead the way in deployment, making up nearly half (47%) of the world's 1,190GW net solar capacity additions through to 2031, according to research firm Fitch Solutions.

Higher-than-expected deployment figures last year have put the global solar sector comfortably within reach of the terawatt scale in 2022, SolarPower Europe (SPE) has said in its Global Market Outlook report.

The global solar industry could enter the terawatt era by as early as 2022, but only if national governments set appropriate, post-COVID stimulus measures in motion.