Solar PV generation increased by a record 270 TWh (up 26%) in 2022, reaching almost 1 300 TWh. It demonstrated the largest absolute generation growth of all renewable technologies in 2022, surpassing wind for the first time in history. This generation growth rate matches the level envisaged from 2023 to 2030 in the Net Zero Emissions by 2050 Scenario. Continuous growth in the economic attractiveness of PV, massive development in the supply chain and increasing policy support, especially in China, the United States, the European Union and India, are expected to further accelerate capacity growth in the coming years. The tracking status of solar photovoltaic has therefore been upgraded in 2023 from “more effort needed” to “on track”.

Maintaining a generation growth rate aligned with the Net Zero Scenario will require reaching annual capacity additions that are close to three times higher than those of 2022 until 2030. Achieving this will require continuous policy ambition and effort from both public and private stakeholders, especially in the areas of grid integration and in addressing policy, regulation and financing challenges.