According to the latest report released by IEA PVPS- "Snapshot of Global Photovoltaic Markets", the total installed capacity of Solar Photovoltaic (PV) installations worldwide has reached 303 GWp.
Year 2016 noted a record addition of 75 GWp of Solar PV Capacity, representing a 50% year on year growth
The solar PV installed capacity mainly came from Asia, with China leading the pack with 34.5 GW and India almost doubling its installation base one year by adding 4GW.
with this installation base, slightly less than 2% of the world's electricity generation is now covered by Solar PV. In several countries, the PV contribution to the electricity demand has passed the 1% mark, while in atleast 4 countries its more than 7%. Honduras produces a remarkable 12.5% of its electricity by Solar PV.
Globally, close to 375 TWh, or 375 billion kWh will be produced in 2016 by PV systems installed and commissioned until the end of December 2016.
Finally, with declining prices in the last few years, PV has appeared on the radar of policymakers in charge of energy policies in numerous countries and plans for PV development have increased rapidly all over the world
Source: IEA PVPS