The National Interest, a U.S. think tank website, published an article titled "The Irresistible Rise of Solar Power: The Role of Battery Storage in Growth" on April 8. The authors are Euan Graham and Nicolas Fulghum. Here is an excerpt from the article:

The unstoppable rise of solar power, referred to as "solar" hereafter, is mainly due to continuous cost reductions and rapid construction. It is no longer a question of "whether," but rather a matter of "how fast."

As solar power reaches scales and momentum few anticipated, the global energy landscape is undergoing tremendous changes. With ongoing cost reductions and rapid construction, solar power is transforming the electricity market, reducing dependence on fossil fuels, and reshaping geopolitics. With batteries now expanding at an unprecedented pace, the world is on the cusp of an energy revolution, with solar power and storage forming an irresistible force.

The rise of solar power is no longer a distant future—it is happening at an unprecedented speed and scale. After decades of growth, global solar capacity reached 1 terawatt (TW) in 2022, but just two years later, in 2024, it reached 2 terawatts. No other power source has expanded so rapidly in history. Solar power doubles every three years and has become the main source of new energy, surpassing fossil fuels and consolidating its position as the engine of the energy transition.

According to Ember's Global Electricity Review, solar power added a record 474 terawatt-hours (TWh) of electricity globally in 2024, more than three times that of coal (+149 TWh) and nearly five times that of natural gas (+103 TWh). Solar power has been the largest source of new electricity for three consecutive years and has been the fastest-growing source of electricity for twenty consecutive years. In 2024, China added twice as much solar electricity as coal, while in the United States, solar growth outpaced natural gas.

Cheap solar power is disrupting the energy economy. Without solar power, global fossil fuel generation would be 12% higher than it is today. In China, the world's largest consumer of coal, solar power alone prevented the addition of 783 TWh of coal-fired electricity last year—if not for solar, coal-fired generation over the past five years would have increased by 50%. In the EU, the energy crisis following Russia's invasion of Ukraine accelerated the promotion of renewable energy, with solar power quickly replacing fossil fuels.

New Solar Superpowers

China, the undisputed solar superpower, accounts for 39% of global solar power generation. However, solar growth is not limited to a few pioneering countries; it is a global phenomenon. Currently, 42 countries derive at least 10% of their electricity from solar power. Over the past five years, solar power generation has doubled in 99 countries, with emerging economies and industrial powers incorporating solar into their grids.

New solar superpowers are emerging. In 2022, India surpassed Japan to become the world's third-largest producer of solar power. In 2024, Brazil surpassed Germany to become the fifth-largest producer of solar power. Together with China, this means that BRICS nations now represent three of the top five solar power producers in the world.

Solar power is now so cheap that large markets can emerge within a year—as Pakistan demonstrated in 2024. The low cost and rapid construction characteristics of solar power can transform electricity systems at an unprecedented pace, highlighting the need for updated system planning and regulatory frameworks. Other regions show signs that faster changes may be coming: Africa and Middle Eastern countries set a record high for solar equipment imports in 2024, thanks to declining technology costs and ease of construction.

Countries leading the way, such as Chile and Hungary, demonstrate that high proportions of solar power are feasible, with contributions exceeding 20% in both countries. In the United States, California and Nevada exceeded 30% solar power in annual share for the first time in 2024. As the proportion of solar power increases in various countries, it becomes crucial to transfer some of the cheap and abundant electricity to after sunset—this is where battery storage and other forms of clean flexibility come into play.

Battery Storage Is a Game-Changer

The plummeting cost of battery storage has led to a surge in installations, further enhancing the potential of solar power. Average prices saw a 20% drop in lithium-ion battery pack costs in 2024, marking the largest single-year cost reduction since 2017. Due to last year’s installations, global battery storage capacity almost doubled, adding 69 gigawatts (GW). Storage is now expanding at an unimaginable pace, ensuring that solar power can be transferred to when it is most needed.

This impact is already evident in electricity markets at the forefront of transformation. In California, batteries now meet nearly one-fifth of daily peak demand, replacing natural gas generation during critical evening hours. In Abu Dhabi, the world's first 24-hour solar photovoltaic project—combining 5 gigawatts of solar power and 19 gigawatt-hours (GWh) of battery storage—will soon provide continuous, dispatchable renewable energy, eliminating the need for backup fossil fuels. As more countries integrate batteries, the vision of round-the-clock solar power is becoming a reality. The benefits of investing in solar and batteries are hard to ignore.

The rise of solar power and batteries is unstoppable. The old model of fossil fuel power systems based on commodities is being dismantled and replaced by a new model dominated by low-cost renewable energy technologies. With continuous cost reductions and rapid construction, solar power and batteries will reshape the power system faster than policymakers, markets, or even energy giants expected. The energy transition is no longer a question of "whether," but rather a matter of "how fast."

Author Euan Graham is an analyst of electricity and data at Ember; Nicolas Fulghum is a senior data analyst at Ember.

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