Solar PV capacity - new installations worldwide by country 2020

In 2020, China installed the largest share of the world’s new solar photovoltaic (PV) capacity, at 35 percent of the total capacity. This was a smaller share than it had in 2018, when despite reduced feed-in-tariff (FIT) payments and certain policy changes, China was able to surpass its national solar capacity target for 2020. In comparison, the United States installed 14 percent of the world’s 116 gigawatts of capacity additions. The United States added 19.2 gigawatt in that year.

Viability of global solar technology

Cumulatively, the world has installed over 500 gigawatts of solar PV capacity as of 2018, in comparison to just 40 gigawatts at the beginning of this century. Solar is one of the fastest growing energy technologies in the global market as the average cost of using solar PV has decreased over the years. The reduction in costs has made it one of the most competitive options for residential and commercial markets as well as utility projects. Addressing policy, regulatory instability, as well as financial challenges will be essential for the further integration of solar PV into global electricity generation.