Global solar capacity hits 3 terawatts, driven largely by China

The global solar fleet crossed the 3-terawatt threshold in 2026, a pace that followed a ten-year climb to the first terawatt and a sub-three-year surge to the second. China has taken the lead, overtaking wealthier nations that initially subsidised solar, while the proportion of capacity added in poorer countries has barely moved since 2020. Nonetheless, nations like Pakistan, Nigeria, the Philippines, Cuba and Lebanon are experiencing notable rooftop installations, expanding the count of countries with at least 1 GW of solar from 42 in 2020 to 74 last year.

China’s rapid deployment has outstripped the development of transmission lines and battery storage, causing increased curtailment during peak hours and prompting the government to shift focus toward renewable consumption. BloombergNEF expects a resurgence of solar growth in developing markets from this year onward, forecasting that by 2036 over 25 % of new solar will be in these economies, while rich nations’ share falls to about 20 %. The analysis highlights that without sufficient battery storage, the solar boom could stall, emphasizing the need for expanded lithium-ion capacity to absorb excess daytime generation.