Future of solar energy

Future of Solar

Source: Chart courtesy of the International Renewable Energy Agency (IRENA), from their 2016 report “Letting in the Light: How Solar Photovoltaics will Revolutionize the Electricity System” via Cleantechnica

This chart shows you the amount of globally installed Photovoltaic (PV) power generating capacity in Gigawatts (GW) – 1 GW is a billion Watts. As you can see, between 2006 and 2015 cumulative capacity dramatically increased from roughly 10 GW to about 230 GW – a 23 fold increase or 2200% (!!) if you prefer it that way.

On the right side of the chart you can see three different projections for 2030 based on different scenarios. In the REmap scenario we would see another increase of 500% compared to 2015 and in the most optimistic scenario we would have a 10 fold rise in PV installations worldwide to 2,500 GW, which would be enough to cover 8% or 13% respectively of total electricity production globally.

Having said that,…………I think I really need to buy some solar stocks! 😉
Featured image courtesy of Blake Richard Verdoorn via unsplash.com

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