But, if you don’t pay federal income taxes or can’t qualify for a loan, finding a company that offers solar leases or power purchase agreements might be the right move. The global solar industry experienced unprecedented growth in 2024, with a record 597 gigawatts (GW) of new solar capacity installed, marking a 33% increase over the previous year. This surge brought the total global solar capacity to 2.2 terawatts (TW), solidifying solar power’s position as a cornerstone of the global energy transition. These findings are detailed in the report “Global Market Outlook for Solar Power 2025–2029,” released by SolarPower Europe on May 6, 2025.
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