How Renewable Energy Is Transforming Global Electricity — Charts!
Even as Fossil Energy Still Provides Most of the World’s Electricity, New Electricity Generating Capacity Is Dominated by Renewable Energy Projects
Even as Fossil Energy Still Provides Most of the World’s Electricity, New Electricity Generating Capacity Is Dominated by Renewable Energy Projects
In terms of absolute scale, China and the USA have long been leaders in the growth of solar power. And, really, China stands alone at the top. It had deployed 462 gigawatts of solar PV by the end of 2022, which was 37.5% of the whole world’s total, 1,233 gigawatts. … [continued]
Wood Mackenzie Power & Renewables has published a new report which outlines the analyst group’s prediction that global solar PV installations will reach a new high of 114.5 gigawatts (GW) in 2019, growing by 17.5% on 2018 and putting the industry on track to reach around 125 GW per year by the early 2020s.
The continuing decline in costs for wind, solar, and battery storage technology will drive a global power grid half-powered by renewables by 2050, according to new projections published this week by Bloomberg New Energy Finance.
A new report published this week by the International Renewable Energy Agency has found that 77% of onshore wind projects and 83% of utility-scale solar PV projects set to be commissioned in 2020 will be cheaper than the lowest fossil fuel-fired generation prices.
Leading energy market intelligence firm Wood Mackenzie Power & Renewables has published its latest market outlook of the global solar PV market in conjunction with a stunning visualisation which shows China’s meteoric dominance of the solar industry which dates back to 2011.
European solar trade body SolarPower Europe has doubled down on its belief that the global solar industry installed over 100 gigawatts (GW) in 2018 while predicting 800 GW of new capacity will be brought online over the next five years, bringing cumulative capacity to 1.3 terawatts by the end of 2023.
The global solar PV market is expected to bounce back from slower growth in 2018 with a return to form in 2019 that will see double-digit growth in the range of 25% and total solar installations nearing 130 gigawatts (GW), according to analysts IHS Markit.
Global solar installations increased by around 5% in 2018 and reached 104.1 gigawatts (GW) according to new figures released by SolarPower Europe released at the SolarPower Summit in Brussels on Wednesday, further putting the lie to previous estimates that 2018 solar installations had failed to reach the same level as last year.
Bloomberg New Energy Finance’s head of solar analysis has revealed that new solar installations in 2018 are likely to have hit as high as 109 gigawatts (GW) and that growth in 2019 could see annual capacity additions increase to as much as 141 GW.