GITNUX MARKETDATA REPORT 2024

Solar Panel Industry Statistics [Fresh Research]

Statistic 1

"The global solar panel market size was valued at USD 178.2 billion in 2020 (Source: Fortune Business Insight)"

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Statistic 2

"From 2012 to 2019, solar installations grew by an average of 48% each year (Source: SEIA)"

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Statistic 3

"In 2020, solar power provided about 3.3% of total U.S. electricity generation (Source: EIA)"

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Statistic 4

"As of 2021, China retains its top spot as the largest producer of photovoltaic power, reaching over 252 GW of capacity (Source: Statista)"

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Statistic 5

"The Accumulative Global Installed PV capacity is expected to reach up to 1600GW-3200GW by 2030 (Source: Solar Power Europe)"

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Statistic 6

"World’s top solar equipment exporter – China with a 41% share of all solar equipment sent abroad in 2020 (Source: Atlas)"

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Statistic 7

"The cost of solar has decreased by 81% since 2010 (Source: Lazard)"

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Statistic 8

"Solar energy growth rate in the U.S. is projected to be 17% annually from 2020-2030 (Source: EIA)"

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Statistic 9

"More than 200,000 Americans work in solar as of 2021 (Source: SEIA)"

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Statistic 10

"By the end of 2021, America had more than 97.2 GW of solar capacity installed (Source: SEIA)"

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Statistic 11

"Australia holds the top spot for solar panel installations per capita (Source: RenewEconomy)"

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Statistic 12

"By 2023, India plans to achieve 40 GW of solar capacity through rooftop solar installations (Source: MNRE)"

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Statistic 13

"global solar PV installation will reach 184.02 GW by 2024 (Source: GlobalData”)"

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Statistic 14

"By 2050, solar power could be the world’s largest source of electricity, generating 33% of the total (Source: IEA)"

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Statistic 15

"About 43% of all new electric capacity added to the grid in U.S. in 2020 came from solar (Source: SEIA)"

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Statistic 16

"The average payback period for a residential solar panel system in the U.S. is around 8 years (Source: EnergySage)"

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Statistic 17

"The world’s largest solar power plant is in India, the Bhadla industrial solar park, which spans over 14,000 acres (Source: National Geographic)"

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Statistic 18

"By 2024, it is projected that there will be over 40,000 solar jobs in the UK (Source: GOV UK)"

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Statistic 19

"In Germany, solar power capacity per capita is 645 watts – highest in the world (Source: DW)"

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Statistic 20

"The floating solar panel market is projected to reach $2.70 billion by 2025, grow at a CAGR of 30.1% (Source: MarketsandMarkets)"

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