Massive potential for solar power across the globe
At present, solar power accounts for 2 per cent of global power capacity. This figure could rise to 13 per cent by 2030. This is not least thanks to the fact that – as the International Renewable Energy Agency (IRENA) tells us – the cost of PV generation will keep falling.
By 2030, solar power might account for up to 13 per cent of the global electricity supply. This is an estimate released by the International Renewable Energy Agency (IRENA). At present, photovoltaics (PV) accounts for roughly 2 per cent of the global power supply.
PV capacity set to grow from 227 GW to up to 2,500 GW
IRENA is assuming that global PV capacity is to massively increase from today’s 227 Gigawatts (GW) to between 1,760 and 2,500 GW in 2030. This is not least due to the fact that the cost of solar energy is expected to continue to fall.
China, the US and Japan to fuel growth in global PV capacity
China, the US and Japan are expected to be the main growth markets for solar energy, says the German Solar Industry Federation. At a global scale, market analysts are expecting a whopping 65 GW of PV capacity to be added this year alone. The total capacity of all PV installations in Germany is approx. 40 GW.
The Renewables 2016 Global Status Report, which was published a few weeks ago, shows that renewables in general are picking up speed. This is true not only for pv installations, but also of other technologies including onshore and offshore wind power. At a global level, a total of 147 GW of additional renewables capacity was installed last year, which compares to approx. 135 GW in 2014. For more information, please click here.