Consulting firm GlobalData forecast in a recent report that global cumulative installed photovoltaic capacity would reach 756 GW by 2025.

GlobalData said in its report that the 217.4 GW currently installed will grow by 13.1% per annum, by 2025. Though highly far from 50.1% recorded between 2006 and 2015, plants developed will be significantly larger than current ones.

China which will be leading this trend with an annual growth rate of 18.5% and grab 31.3% of global capacity installed. The country’s PV output will increase to 236.7 GW by 2025, from 60.5 GW now. “China is a world leader in renewable energy investment, having proved itself a leader in wind power installation, wind turbine manufacturing, and solar PV manufacturing. Solar PV will play a significant role in China’s future energy supply, as the central government, spurred on by growing environmental concerns, has planned many initiatives for rapid development of the domestic PV market,” said Pavan Vyakaranam, GlobalData’s Project Manager covering Power.

Gwladys Johnson