UK consultancy GlobalData projected, in figures shared with pv magazine, that global renewable capacity could hit 11.2 TW by 2035, led by solar. It expects cumulative PV capacity to hit 2,378 GW by year-end and 2,849 GW by 2026. The world is forecast to have installed 7.6 TW of solar by the end of 2035, according to figures from London-based data analytics and consulting company GlobalData. The figure comes from the company’s latest report, “Renewable Energy: Strategic Intelligence,” which projects global installed capacity of all renewables will surge from 3.24 TW in 2024 to 11.2 TW by 2035, with solar accounting for the largest share of installed power. Additional figures from GlobalData, shared with pv magazine, projected the world’s cumulative solar capacity will reach 2,378 GW by year-end and rise to 2,849 GW by the end of 2026. Longer-term predictions from the company show global solar capacity exceeding 4.8 TW by the end of 2030, nearing 6 TW by the end of 2032 and surpassing 7 TW by 2034. GlobalData said the continued growth of renewable’s deployment will be driven primarily by declining costs and strong policy support, particularly for solar and wind. Moreover, mounting system costs are rapidly decreasing, and both ground-mounted and rooftop structures are widely adoption. This growth brings not only opportunities but also intense competition. Many racking manufacturers, such as ART SIGN, remain committed to continually improving their designs to deliver faster, safer, and more efficient PV mounting installation solutions. The renewable energy sector stands on the cusp of substantial growth, with the solar PV and wind power industries at the forefront. Moreover, the worldwide pledge to curtail carbon emissions has cultivated a regulatory landscape conducive to investments in these sustainable energy alternatives. The pace of investment in wind projects is expected to surpass solar, but total PV investment will remain higher, topping $300 billion per year through the end of the decade. Nonetheless, the global commitment to reduce carbon emissions, technological advancements, and demand for cleaner energy solutions will accelerate the adoption of renewable energy across the globe. For any inquiry for solar panel mounting system, pls contact us, E-mail: sales@artsign.net.cn, Whatsapp / Wechat / Skype: +86 18030235875, thank you.