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What trends are affecting the solar energy industry?

Detailed firmographic data, investment patterns, and regional hubs show emerging trends such as photovoltaics, electrification, and distributed solar power generation impacting the industry's future landscape. This report was last updated in July 2024.

How big is the solar energy industry?

Industry Growth: The solar energy industry includes over 62500 companies, growing by 1.21% last year, reflecting its expanding market presence and potential. Manpower & Employment Growth: The industry employs 5.2 million people globally, with 288000 new employees added last year, indicating substantial workforce expansion.

How many people work in the solar energy industry?

Electrification represents a rapidly growing trend within the solar energy industry, with more than 6800 companies identified. This sector employs around 1.2 million people, with 59000 new employees added in the past year. The annual growth rate for electrification is 6.88%.

How has the solar energy industry changed over the past year?

The solar energy industry has experienced remarkable growth and investment over the past year, reflecting its increasing significance and potential. Employee growth in the last year reached 288000, indicating the industry's expanding workforce and the rising demand for solar energy solutions.

What are the key trends driving the solar industry forward?

This report highlights the growth trajectory and significant innovations driving the sector forward. Detailed firmographic data, investment patterns, and regional hubs show emerging trends such as photovoltaics, electrification, and distributed solar power generation impacting the industry's future landscape.

Is the solar energy industry a good investment?

The solar energy industry has attracted substantial investments, with the combined value invested by top investors exceeding USD 11 billion. This level of financial commitment highlights the sector's potential and the confidence of major investors in its future growth. The European Investment Bank has invested USD 3.2 billion across 17 companies.