India to Become World’s No. 2 Solar Market by 2026, Beating the US

India to Become World’s No. 2 Solar Market by 2026, Beating the US

January 15, 2026

India is set to surpass the United States to become the second-largest solar power market in the world in 2026 as it adds more than 50 gigawatts (GW) of new solar capacity, according to a forecast by Bloomberg NEF. This growth comes even as solar installations in the United States are expected to fall, reshaping the global solar energy landscape. According to the outlook, India’s solar capacity additions will rise about 6 % in 2026 to just over 50 GW, driven mainly by large solar projects and supported by ongoing government incentives that also boost rooftop installations.

 In contrast, solar additions in the US are projected to decline roughly 14 %, in part due to policy changes affecting eligibility for tax credits, leading to India overtaking the US for the first time. China is still expected to remain the world’s largest solar market by a wide margin

The forecast highlights India’s rapid expansion in clean energy at a time when global solar growth faces headwinds due to a slowdown in China’s capacity additions. India’s strong performance underscores its growing role in the global transition to renewable power and its increasing manufacturing and installation capabilities in the solar sector.