BloombergNEF expects up to 700 GW of new solar in 2025

BloombergNEF says global solar installations could reach 700 GW in 2025, with additions rising to 753 GW in 2026 and 780 GW in 2027.

The world may add about 698 GW of new PV capacity in 2025, BloombergNEF said in a new report.

That figure would compare to 599 GW in 2024, 444 GW in 2023, and 252 GW in 2022.

BloombergNEF said it expects China to remain the largest PV market this year, followed by the United States, India, Germany, Brazil, Pakistan, Turkey, and Italy.

The firm also projects global PV additions could reach 753 GW in 2026 and 780 GW in 2027.

The report's authors warned that many mature PV markets are now facing grid capacity constraints, falling spot market power prices, and declining homeowner interest in rooftop systems.