India, Oct. 12 -- IEA PVPS has released its latest Trends in Photovoltaic Applications 2026 report, revealing that global cumulative installed PV capacity reached 2.96 TW by the end of 2025, following another year of strong market growth. Around 690 GW of new PV capacity was installed during the year, an increase of 15% compared with 2024.

The figures confirm another year of significant PV deployment, although growth was more moderate than during the exceptional expansion of the previous two years. Very low module costs, and continued strong deployment in China and other major markets supported further market growth in 2025.

China remained by far the world's largest PV market, installing 415 GW in 2025, 16% more than in 2024, and accou...