Summary of the analysis report on wind solar and energy storage sectors

How many GW of solar & wind will be operational in 2024?

The February 2025 release of the Global Solar Power Tracker and the Global Wind Power Tracker shows at least 240 GW of utility-scale solar and wind became operational in 2024. 3 This is a lower figure than the International Energy Agency’s earlier forecast (378 GW), as it does not include projects for which the start year is unknown.

How many GW of solar & wind installations are there in China?

GEM has tracked at least 891 GW of operating utility-scale solar and wind capacity in China. China officially installed 277 GW of utility and distributed solar and 80 GW of wind in 2024, and GEM has tracked 136 GW of those utility-scale solar and wind installations to the asset level.

How will the growing solar industry in Germany affect the market?

The growing solar industry in Germany is expected to propel the growth of solar market, which, in turn, is expected to drive the market over the forecast period. It is a domestic source of energy, which allows each state to generate its own energy without reliance on any international fuel sources.

Are utility-scale solar and wind the same?

Utility-scale solar and wind are largely equal in their prospective development, with 2 TW and 2.5 TW respectively. However, solar photovoltaic (PV) is anticipated to account for 80% of global renewable energy capacity growth until 2030, due to the expanding distributed solar market and the construction of new large-scale projects.

How many solar and wind farms are being built in 2023?

GEM data included 185 GW of solar and wind farms that were under construction as of December 2023 and designated to become operational before the end of 2024. Globally, only 59% of these projects started producing electricity on time. A disparity exists in completion rates across G7 countries, 2 China, and the rest of the world.

Which country has the largest solar and wind capacity?

China has the largest operating capacity for utility-scale solar and wind. GEM has tracked at least 891 GW of operating utility-scale solar and wind capacity in China.