Solar PV Market Size

Solar PV Market size was over USD 397.65 billion in 2024 and is anticipated to cross USD 7.08 trillion by 2037, witnessing more than 24.8% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of solar PV is estimated at USD 476.54 billion.

The reason behind the growth is the rising installation of solar PVs across the world. According to the Solar Energy Industries Association (SEIA) with the support of robust federal policies such as the solar Investment Tax Credit, rapidly falling costs, and growing demand for clean electricity in both the public and private sectors, the global solar capacity installed to date has exceeded 179 gigawatts (GW), or nearly 33 million homes.