What is the future of solar energy?

The Future of Solar Energy considers only the two widely recognized classes of technologies for converting solar energy into electricity — photovoltaics (PV) and concentrated solar power (CSP), sometimes called solar thermal) — in their current and plausible future forms.

Is solar photovoltaics ready for the future?

Solar photovoltaics (PV) is a mature technology ready to contribute to this challenge. Throughout the last decade, a higher capacity of solar PV was installed globally than any other power-generation technology and cumulative capacity at the end of 2019 accounted for more than 600 GW.

Will solar PV be the future of electricity?

In the REmap analysis 100% electricity access is foreseen by 2030, in line with the Sustainable Development Goals, and solar PV would be the major contributor to this achievement. costs are expected to reduce further, outpacing fossil fuels by 2020 (IRENA, 2019f).

Is solar PV a good choice for large-scale electricity generation?

Many countries are moving on to the use of solar PV energy generation systems for large-scale electricity generation. This is because it is a clean, renewable energy source with almost zero maintenance costs. It is estimated that solar PV electricity energy generation increased by 23% from 2019 to 2020, to reach a record high of 156 TWh.

How has the solar PV industry evolved in recent years?

The evolution of the solar PV industry so far has been remarkable, with several milestones achieved in recent years in terms of installations (including off-grid), cost reductions and technological advancements, as well as establishment of key solar energy associations (Figure 5).

How will the future of solar energy be shaped?

Changes across the wider energy system, like the increased electrification of buildings and vehicles, emergence of clean fuels, and new commitments to both equitability and a more circular, sustainable economy, will shape the future of solar energy.