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Global Solar Capacity Growing Exponentially

image credit: SolarPower Europe - Global Market Outlook 2023-2027
Gavin  Mooney's picture
Country manager - Australia, powercloud

Hi, my name is Gavin Mooney. Thanks for stopping by. I help utilities transform the way they run and embrace the energy transition with powercloud. Feel free to reach out, I am always up for...

  • Member since 2018
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  • Feb 23, 2024
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After taking 22 years to reach its first terawatt of solar power, the world will reach its second AND third terawatt in just five years.

And this is why global power sector emissions are going to start declining.

➡️ 10 GW was passed in 2008
➡️ 100 GW was passed in 2012
➡️ 1 TW was passed in 2022.
➡️ 2 TW will be passed in 2025
➡️ 3 TW will be passed in 2027

Before long, we will be installing 1 TW solar every year. Even at a conservative 13.5% capacity factor that's still 1,200 TWh of generation per year.

And that means solar power alone would be enough to more than cover rising electricity demand (per the IEA STEPS and APS scenarios).

And that's without even counting new wind, hydro, nuclear, etc.

Discussions
Mark Silverstone's picture
Mark Silverstone on Mar 4, 2024

Looking back just 4 or 5 years ago, not even the most enthusiastic advocates of renewables would have predicted this on the record. Maybe they hoped for it. But to suggest that it would happen would have elicited derision from the EC community.

Gavin  Mooney's picture
Thank Gavin for the Post!
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