The world installed around 174GW of solar PV in 2021, a 20% jump on the previous year, and is expected to deploy 260GW this year, barring any major disruptions to international trade.
Installed solar PV capacity globally will grow 20-fold by 2050, when the technology will represent 38% of all electricity production, according to a new DNV report.
The way that solar companies use and consume intelligence needs to change, with more accurate and reliable data on project deployment needed, especially in light of the recently passed Inflation Reduction Act (IRA).
Solar accounted for half of all global power generating capacity added last year, with 182GW deployed, a 25% increase on 2020, according to a report from BloombergNEF (BNEF).
US solar players have hailed the country’s landmark Inflation Reduction Act (IRA), signed into law by President Joe Biden this week, as a once-in-a-generation legislation that lays the groundwork for accelerated PV deployment and a significant ramp-up in domestic manufacturing.
US utility-scale solar installations in Q2 2022 were down 53% year-on-year as policy headwinds and trade issues impacted development and increased the backlog of delayed projects, a new report has revealed.
Solar and wind reached a 10.2% share of power generation in 2021, the first time the two technologies provided more than 10% of global power, according to new research from bp.
The global solar community has called for “robust and fast policies” alongside increased international cooperation to accelerate PV deployment and the energy transition.
