Enough solar panels have been installed throughout the world to generate 1 terawatt (TW) of electricity from the sun, marking a major milestone for renewable energy adoption. This solar capacity is enough to meet the electricity demands of nearly every country in Europe combined, though distribution and storage limitations mean it is still only makes up a small fraction of the global energy supply. BloombergNEF estimates that solar power will account for roughly 20 percent of the European energy mix by 2040, based on current trends. China, Europe, and the US are driving the growth of solar energy harvesting, accounting for more than half of installed solar capacity globally. Record growth was seen in 2021 for residential installations, while commercial and industrial systems also saw significant increases as solar electricity generation becomes more energy efficient and cost effective.

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