Market Surveys Prove Tremendous Growth of Renewables

News – July 29, 2024

The deployment of renewable sources of energy is picking up speed around the world. The impressive results of several market surveys recently presented at The smarter E Europe 2024 are testament of this growth. Photovoltaics (PV) and storage systems in particular are experiencing dynamic growth, and the trend goes towards the combination of the two technologies. The number of large-scale PV power plants is growing rapidly, as is the number of residential, commercial and industrial PV installations combined with storage systems:

  • In 2023, the global annual PV deployment increased by 87 percent over the previous year.
  • In 2023, 447 gigawatts of new solar systems were installed, up from 239 GW in 2022. The total global solar capacity is now at 1.6 TW.
  • China took the lead in global solar deployment, installing 57 percent of the world’s PV installations in 2023.
  • The world is set to reach a total capacity of 2 TW this year, having passed the 1 TW mark as recently as 2022.

You can learn everything about the most important markets, sectors and developments of the PV and battery storage market in these three market surveys that are now available for download at The smarter E Digital :

SolarPower Europe’s annual, award-winning Global Market Outlook for Solar Power is the most important market analysis for the global solar electricity sector. This report is essential for the solar industry and all players in the energy sector.

Full survey

SolarPower Europe’s annual European market outlook for battery storage systems illustrates the state of battery storage in Europe, with recent figures on the annual and total installed capacities until 2023 and a forecast of future installations in three scenarios until 2028.

Full survey

This study is the first of its kind to provide an overview of the photovoltaics and battery storage markets in Germany. It provides the latest statistics on the PV market, battery storage systems and on an analysis of current support schemes in Germany.

Full survey

Further Content
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June 12, 2026

Hybrid PV systems combine solar installations and large-scale storage behind a single grid connection point, making the system more flexible.

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June 17, 2026

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June 23, 2026

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19. June 2026

There is a clear vision: millions of electric vehicles serving as mobile storage units.

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Energy Suppliers recognised with 10th Energy Transition Award by EUPD Research and The smarter E Europe

June 26, 2026

On June 25, 2026, pioneers of the energy transition from the DACH region were awarded the Energy Transition Award 2026 for their comprehensive range of products and services in the field of sustainable energy solutions at The smarter E Europe in Munich, Europe’s largest alliance of exhibitions for the energy industry.

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