World’s solar capacity to top 2TW by 2031, with China accounting for nearly half of all new additions

Fitch forecast that total installed solar power capacity globally will rise from 836GW at the end of last year to 2,044GW by 2031

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.

Fitch forecast that total installed solar power capacity globally will rise from 836GW at the end of last year to 2,044GW by 2031, pushing up solar’s share of the global power mix by more than six percentage points from 27.5% in 2021 to 33.9% by 2031.

Moreover, solar PV will experience greater growth in capacity than other power types over Fitch’s forecast period, making up 43% of all capacity additions globally from 2021-2031.

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Source: PV Tech

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