Solar Power Passes 3 Terawatts!

The world has now installed more than 3 terawatts of solar power, according to data from research firm BloombergNEF. To put that growth in perspective: it took until around 2022 to reach the first terawatt, another terawatt came within a few years after that, and the jump from 2 to 3 terawatts took less than two years. BloombergNEF expects the pace to keep accelerating, with global solar capacity reaching 9 terawatts by 2036.

Much of the recent growth has come from China, but adoption is spreading well beyond the countries that led early on. In 2020, only 42 countries had at least 1 gigawatt of solar installed; that number is now up to 74. Developing countries such as Pakistan, Nigeria, the Philippines, and Cuba are adding solar quickly, and by 2036, developing nations are expected to account for more than a quarter of new solar growth, while wealthy countries' share of that growth is expected to shrink to about 20 percent.

For homeowners, this is mostly a sign of where the broader energy market is headed rather than something that changes any specific program or rebate right now. As solar panels, batteries, and related equipment keep getting cheaper and more common worldwide, it can make home solar and battery storage more affordable and accessible over time, though what's available where you live still depends on local utility rules, state incentives, and federal programs.