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Global investments in solar photovoltaic energy stood at almost *** billion U.S. dollars in 2024. Investment in solar PV has increased greatly since 2015, when it amounted to just over *** billion U.S. dollars. This surge in investment reflects the rapid growth and increasing importance of solar power in the global energy landscape. From 2015 to 2024, the share of solar power over the total electricity generation worldwide grew from only *** percent to almost percent, registering the highest growth among electricity-generating technologies.  

Global renewable energy investments 

In 2024, solar PV was the technology that recorded the largest share of renewable energy investments, accounting for more than ** percent of the total funding for renewables that year, which in total reached *** billion U.S. dollars. Solar PV was followed by wind energy by a wide margin, with investments amounting to *** billion U.S. dollars in 2024.  

Solar PV capacity growth worldwide 

The surge in investments has driven substantial growth in global cumulative solar PV capacity, which reached *** terawatts in 2024. This rapid expansion is expected to continue, with projections for solar energy indicating that the total installed capacity could surpass *** gigawatts by 2029, almost tripling the current capacity. Technological advancements and decreasing costs have played a crucial role in the growth of solar energy in recent years.