The volume of global solar power capacity added this year looks set to be flat or down slightly on 2025 — potentially ending a two-decade run of steady expansion in annual additions. The slowdown is overwhelmingly a China phenomenon, after a deliberate policy reset slammed the brakes on that country’s exponential growth. But analysts caution against reading too much into the slowdown. It is expected to be more of a pause than a turning point. Installed capacity would still expand by a healthy 20% this year. India, Africa and other emerging markets are accelerating. And policy changes point more to an industry maturing than one stalling.