Global Solar Farm Market to Hit $359.9 Billion by 2035 as Low-Cost Solar Drives 11.1% CAGR
Updated
Updated · Market.us · Aug 3
Global Solar Farm Market to Hit $359.9 Billion by 2035 as Low-Cost Solar Drives 11.1% CAGR
1 articles · Updated · Market.us · Aug 3
Summary
The solar farm market was valued at $127.4 billion in 2025 and is forecast to nearly triple to $359.9 billion by 2035, reflecting expected 11.1% annual growth.
Low-cost utility-scale solar is the main driver, with the report saying it is increasingly replacing new thermal generation as the cheapest scalable power source in many markets.
Asia Pacific led in 2025 with a 41.6% share and $53.0 billion in revenue, while utility-scale projects held 58% of the market and photovoltaic technology accounted for 84%.
Solar's wider power role is also expanding: global solar PV generation rose to 620 TWh in 2025 from 450 TWh in 2024, lifting solar to about 8% of worldwide electricity.
Growth still faces bottlenecks from grid-connection delays, curtailment and transformer shortages, while future upside is expected from solar-plus-storage, data-center energy parks and agrivoltaics.