Solar energy could meet 13% of global power needs by 2030

ABU DHABI / WAM

The share of global electricity generated by solar photovoltaics (PV) could increase from 2 per cent today to as much as 13 per cent by 2030, according to a new report from the International Renewable Energy Agency (IRENA).
Released on Wednesday at InterSolar Europe, Letting in the Light: How Solar Photovoltaics Will Revolutionise the Electricity System finds the solar industry is poised for massive expansion, driven primarily by cost reductions. It estimates that solar PV capacity could reach between 1,760 and 2,500 gigawatts (GW) by 2030, up from 227 GW today.
“Recent analysis from IRENA finds that cost reductions for solar and wind will continue into the future, with further declines of up to 59 per cent possible for solar PV in the next ten years,” said IRENA Director-General Adnan Z. Amin. “This comprehensive overview of the solar industry finds that these cost reductions, in combination with other enabling factors, can create a dramatic expansion of solar power globally. The renewable energy transition is well underway, with solar playing a central role.”
Focusing on technology, economics, applications, infrastructure, policy and impacts, the report gives an overview of the global solar PV industry and its prospects for the future.