Global solar PV installation to reach $1.06t by 2035

Renewable energy adoption and government policies are fuelling the growth.

The global solar photovoltaic (PV) installation market is projected to reach $1.06t by 2035, with a compound annual growth rate of 13.5% from 2025 to 2035.

“Increasing investments in renewable energy, supportive government policies, and rapid adoption of solar technologies are fueling this expansion,” according to Transparency Market Research Inc.

Thanks to the declining installation costs, government incentives, and rising corporate sustainability goals, the solar PV installation industry has transformed from a niche segment into a mainstream power generation source. It has also benefited from technological innovations in solar modules, inverters, and battery storage, making solar energy more efficient and reliable than ever before.

The analysis solar PV installations are expected to play a central role in achieving net-zero carbon targets, with large-scale utility projects and decentralised rooftop systems leading adoption.

To improve performance and reduce costs, companies are investing heavily in next-generation technologies such as bifacial panels, smart inverters, and integrated energy storage. Strategic partnerships, diversified global project portfolios, and sustainability-driven initiatives further strengthen their competitive positioning in the worldwide market.

Growth will be led by utility-scale projects in the Asia-Pacific region, followed by strong adoption in Europe and North America.