The International Association of Energy and Development (IE) has predicted that solar PV investment will surpass all technologies combined in 2024, despite falling module prices and easing supply chain pressures offsetting high interest rates. However, this growth is expected to continue at a slower pace in 2024 than previous years. The IEA stated that every dollar invested in wind and solar PV last year yielded 2.5 times more energy output than a dollar spent on these technologies a decade ago. China invested the most in solar PV with US$220 billion last year, representing nearly half of global solar investment. Investment in India, Southeast Asia, Brazil and Africa has driven investment in renewables in emerging markets and developing economies outside China. Grid spending is also on the rise, with investments in Europe, the US, China, and Latin America expected to double in 2024.
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
