people + planet @ peace

 

My mission is to strengthen people and planet through philanthropy

 

Entries in Solar (1)

Wednesday
Oct042017

Renewables 2017: A new era for solar power

According to a report by the International Energy Agency, solar leads the charge in another record year for renewables.

Highlights include:

  • Renewables accounted for almost two-thirds of net new power capacity around the world in 2016 and new solar PV capacity around the world grew by 50%, surpassing the net growth in coal!
  • For the next five years, solar PV represents the largest annual capacity additions for renewables, well above wind and hydro. This marks a turning point and underpins a more optimistic solar PV forecast which is revised up by over one-third compared to last year’s report. 
  • For the next five years, growth in renewable generation will be twice as large as that of gas and coal combined. While coal remains the largest source of electricity generation in 2022, renewables halve their gap with coal, down to 17% in 2022. 

It's becoming clear that renewable generation becomes more competitive, closing the gap with coal and the forecasts in this report give me a strong sense of optimism that we are on the road to a clean energy economy. Be sure to read the full report for more information.