Last year marked a significant milestone for the renewable energy industry, with a 40% increase in global renewable capacity, adding over 550 gigawatts alternating current (GWAC). Solar photovoltaic (PV) was the primary driver, contributing over 340 GWAC, with mainland China leading the charge by installing 217 GWAC. This year, the sector is expected to see over $750 billion in capital expenditure (capex), with solar PV continuing to dominate. Asia is projected to lead this investment, followed by Europe and North America, reflecting a global commitment to renewable energy infrastructure.

Our whitepaper deep dives into market developments, long term outlook,and the latest developments around supply chain and policies.