Solar Power Surge: Global Capacity Hits Historic 2 Terawatt Milestone

Global solar energy capacity has achieved a milestone of 2 terawatts, doubling recent expansions. This growth now powers 92 million homes, highlighting previously overlooked rooftop installations. The Global Solar Council aims for 8 TW by 2030, launching an international finance group to cut costs in developing regions.

Global solar capacity has reached an unprecedented 2 terawatts, marking a significant milestone in the renewable energy sector, according to exclusive data obtained by Reuters from the Global Solar Council.

This updated data represents a more comprehensive view of solar capacity worldwide by including small, rooftop installations that are often absent from official government statistics. With a 2 TW capacity, solar energy now has the potential to power approximately 92 million U.S. households.

The Global Solar Council, in collaboration with SolarPower Europe, gathered deployment statistics from national solar associations and developers to present this update. Their goal is to amplify this momentum by targeting 8 TW of installed solar energy by 2030. The council is poised to launch an International Solar Finance group at the upcoming U.N. talks, aiming to reduce financing costs in emerging markets.

(With inputs from agencies.)