By far the fastest energy change in history is underway. According to the International Energy Agency and other sources, around 400 GW of new solar and wind capacity will be added in 2023.
The large and growing disparity between the deployment rates of solar and coal/gas/nuclear means that nearly all the global growth in electricity demand is being met by solar (with support from wind).
Demand growth will accelerate, driven by rising population, rising affluence, and electrification of nearly all energy services.
The fossil fuel fleet is growing old and will nearly all retire before 2050 regardless of national energy policies around the world – just like is happening in Australia, which is the global solar pathfinder.
Installed solar capacity will reach about 6 Terawatts in 2030, and thereby catch the combined generation capacity of coal, gas, hydro and nuclear. Solar is growing fast enough to decarbonise the global energy system before 2050, even for an all-electric energy system used by ten billion affluent people.
