The world solar market is poised for a new phase of growth in which innovation in efficiency and lower costs will make solar technologies a major contributor to the Paris climate goals and help combat poverty and inequality, according to projections by the Global Solar Council.
8,500 gigawatts solar by 2050
The new phase of the solar market will dwarf the scale achieved so far in the industry’s 30-year history: compared with the 500 gigawatts of solar photovoltaic installed today, a new market boom will see more than 8,500 gigawatts (8.5 terawatts) installed by 2050, based on International Renewable Energy Agency (IRENA) forecasts, to meet the climate targets set out in Paris in 2015.
According to the Global Solar Council’s outlook utility-scale projects will continue to dominate the industry but there will be an important role to play in the residential sector and for distributed as well as off-grid energy thanks to new, innovative ways to implement solar solutions. Research is underway to continue improvements in solar module efficiencies and identify new materials that will help extend the dramatic reductions in manufacturing and system costs.
Decarbonization and cost reductions as drivers
“The way solar will spread, enabled by new technologies and innovation, will be as important as the headline growth numbers,” commented Pranav R Mehta, present Chair of the Global Solar Council and Chairman of the National Solar Energy Federation of India. “Given the widespread recognition of the urgency of the need to decarbonize our economies, the prospect having a solar plant on every farm will be a gamechanger, affordable storage will be a gamechanger and mass deployment of micro and mini grids will transform the energy system.”
Gianni Chianetta of Italia Solare new Chair for 2020
At Solar Power International in Salt Lake City, the Global Solar Council held its annual general meeting and elected a new board and officers. Gianni Chianetta of Italia Solare will be Chair for 2020 while José Donoso of Uniòn Española Fotovoltaica (UNEF) was elected as Chair for 2021. The new board discussed the GSC strategy of extending its focus beyond the climate crisis to questions of how solar energy will help tackle socio-economic issues like inequality and poverty.
“Representing the solar industry at a worldwide level with members spanning all the major markets and both developed and emerging economies, the Global Solar Council has an important role to play as solar moves from a minor player in the energy system to a mass phenomenon, and to do that we are ready to work with other actors as well,” continued Pranav R Mehta. (HCN)
