Solar Futures Alliance

Solar Power: The Cornerstone of a Sustainable Future

Solar energy has become a cornerstone of global progress, powering meaningful change in countries worldwide. It plays a vital role in reducing carbon emissions, expanding energy access, enhancing energy security, creating jobs, and unlocking new economic opportunities, paving the way for a fairer and more sustainable world.

Key Solar Facts

As of 2024

0TW

of solar is installed across the world

Around

0bn

is being invested in solar every day

Nearly

people work in the solar industry globally

By 2030

0TW

of solar capacity could be installed

Solar Power: The Cornerstone of a Sustainable Future
        
            Key to Clean Energy Transition: Solar power plays a vital role in achieving COP28's target of tripling global renewable energy capacity by 2030.
          
            Leading Capacity Growth: Solar PV, alongside wind power, is expected to deliver nearly 90% of capacity additions needed to meet the 1.5°C climate pathway.
          
            Dominance in Renewable Energy: In a fully renewable-powered world, solar is set to contribute one-third to two-thirds of global energy capacity, surpassing other renewable technologies.
          
            Driving Sustainability: Solar power forms the foundation for a resilient and sustainable global energy system.

Solar Growth: Unstoppable and Unprecedented
        
            Record-Breaking Growth: Solar energy has maintained an annual growth rate of approximately 25% since 2004, solidifying its position as the fastest-growing energy source globally.
          
            Dominance in Capacity Additions: In 2024, solar added over twice the new electricity capacity compared to coal, further asserting its dominance in the energy sector.
          
            Outpacing Fossil Fuels: Solar is now expanding faster than fossil fuels, becoming a central driver of the clean energy transition.
          
            Future-Proof Energy Source: With no signs of slowing down, solar energy is set to lead the way toward a sustainable and resilient energy future.

Solar Energy: Affordable, Independent, and Resilient
        
            Cost Leadership: Solar power is the most affordable energy source globally, with utility-scale solar PV costs dropping 83% over the past decade—from $350/MWh in 2009 to $60/MWh in 2024.
          
            Technological Advancements: Continuous innovation, economies of scale, and widespread adoption have driven this unprecedented cost reduction.
          
            Empowering Energy Independence: Distributed solar PV systems enable households and businesses to generate on-site power, cutting electricity costs and reducing reliance on traditional energy providers.
          
            Enhanced Savings and Security: Supportive policies in many regions have resulted in significant consumer savings and improved energy security.
          
            Future Potential: With further cost declines and innovation, solar energy is set to dominate the global energy transition as a sustainable and resilient solution.

Solar Energy: A Reliable Solution for Universal Access
        
            Addressing Energy Inequality: Around 600 million people globally still lack electricity, posing a major challenge to sustainable development.
          
            Decentralized and Adaptable: Solar energy's flexibility supports off-grid systems and large-scale installations, providing reliable power to underserved communities and regions.
          
            Cost-Effective and Resilient: Solar reduces reliance on expensive fossil fuels while offering a swift and sustainable energy solution.
          
            Enhancing Energy Security: By mitigating the impacts of climate change and geopolitical tensions, solar power strengthens energy systems globally.
          
            Driving Sustainable Growth: Solar energy plays a pivotal role in bridging the energy access gap and fostering sustainable development worldwide.