February 07, 2025
In 2004, it took the world a year to add a gigawatt of solar power — now it takes a day
To mitigate the negative impacts of climate change, the world needs to quickly transition from fossil fuels to low-carbon energy sources such as solar power.
The chart shows how much this transition has accelerated in the last two decades.
In 2004, it took the world about a year to add one gigawatt of solar power capacity. By 2023, the same amount was added, on average, every single day.
For reference, a gigawatt of solar is enough to power approximately 200,000 homes in the US.
Much of this growth has been driven by China, which by 2023 accounted for about 43% of the cumulative installed capacity worldwide.
A big reason for this acceleration has been a large decrease in the price of solar panels. Since 2001, the price has dropped by about 95%, from $6.21 to $0.31 per watt.
Learn more about why renewables like solar became so cheap so fast →