GLOBAL LANDSCAPE OF ENERGY TRANSITION FINANCE 2025 by IRENA reported that solar PV and wind technologies made up 93% of renewable energy investments in 2024, while other renewable segments fell to a 7% share. Solar PV investments reached USD 554 billion, rising 49% over 2022/2023 and accounting for 69% of total renewable spending. China, Europe and the United States held most of the market, with China achieving its 2030 solar target ahead of schedule. The United States faced IRA-related changes, permitting delays and project cancellations, although state-level initiatives continued. Europe recorded slower activity as major EU funding mechanisms wound down. EMDEs such as Brazil, Pakistan, South Africa and Lebanon saw strong rooftop and decentralised solar growth driven by high grid costs, net-metering policies and low-priced Chinese imports. South Africa and Brazil reported sharp investment increases, and Pakistan imported 17 GW of modules in 2024 amid rising tariffs. India attracted USD 12.5 billion in 2022/2023 and continued expanding its solar market through national policies and manufacturing incentives. Off-grid solar investment exceeded USD 3.8 billion between 2012 and 2024, providing access to over 500 million people but continued to face financing constraints. Solar thermal technologies declined to USD 12.1 billion in 2024, with China remaining dominant as CSP projects elsewhere faced delays, technical issues and shifts toward PV-battery hybrids.