Page 10 - Policy Economic Report - July 2025

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Figure 4: Global trade growth (%)

July 2025 Source- World Bank

2. BRICS nations generate 51% of global solar power in 2024- Report

Ten BRICS countries accounted for more than half (51%) of global solar electricity generation in 2024,
up from just 15% a decade ago, according to energy think tank Ember. The analysis highlights how
China, India, and Brazil have emerged as the primary drivers of this shift. In 2024 China remained the
world’s largest solar generator with 834 TWh of output — nearly three times more than the second-
ranked United States. India reached 133 TWh, a fourfold increase since 2019, while Brazil joined the
global top five by surpassing Germany with 75 TWh of solar generation.

The rise is not just in total generation but also in the share of new electricity demand met by clean
power. In 2024, solar alone met 36% of the increase in electricity generation across all BRICS countries,
a major jump from 14% in the previous decade and just 0.25% a decade before that. When combined
with other clean sources like wind, hydro, and nuclear, 70% of the increase in electricity generation
in 2024 came from clean energy.

China is leading this shift. Clean sources met 82% of the increase in electricity generation in 2024 in
the country, with solar alone contributing 41%. According to the data from January to May 2025,
China met all its additional electricity demand with clean power. Rapid solar growth, along with strong
gains in wind and other clean sources, led to a drop in fossil generation in the country. India and Brazil
also registered strong solar growth in January to April 2025, with year-on-year increases of 32% and
35%, in the same period, respectively.

While the overall trend is positive, progress among BRICS nations remains uneven. Russia continues
to lag far behind in clean growth, with solar generation still below 0.5 TWh in early 2025.

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