Social Media Sidebar

Announcement

Please sign up, comment on articles and bring your friends!

Current poll

PlanetTech is asking:

What do you think about our new web site?

Love it, indeed
Really good solution
Same as old one
The old one was better
This is a new option

Quote of the day

Just because something doesn’t do what you planned it to do doesn’t mean it’s useless.

 

Thomas Edison

By 2023, the World Will Have 1 Trillion Watts of Installed Solar PV Capacity

RATE THIS! +8
Posted in Science on 26th Aug, 2018 02:12 AM by Alex Muller

Prices are still going down and capacity is going up around the world. Pretty much the same path we've been on. But that path for solar has widened. In fact, within the next five years, the world will likely have over 1 terawatt of solar capacity installed, according to the latest global data from Wood Mackenzie Power & Renewables.

 

That's a trillion watts. That's enough to serve more than one-third of America's electricity consumption.

 

Our last major capacity projection was one year ago, when the GTM Research team forecasted 871 gigawatts by 2022. The latest projections show higher-than-expected growth for every year after 2018. For example, WoodMac projections for 2020 are 26 gigawatts higher than last year's forecast.

 

Basically, it's Asia and everyone else. China, Japan and India will make up 20 percent of the total global market through 2023. Over the next two years, China and Japan will make up half of annual installations — even with both markets in decline this year.

 

But the long tail of markets is very important. North America and Europe will account for 28 percent of the market by 2023; the Middle East will jump from 3 percent of capacity today to 9 percent; and Latin America will make up 7 percent of global installations. The global market is increasingly diverse.

 

The reason for the upward adjustment in capacity is pretty simple. Prices are ultra-competitive, and falling. More countries are putting in place auction systems, increasingly "subsidy-free", and large-scale solar PV is winning a lot of bids. Cost drops haven't kept pace with recent price drops, but WoodMac expects costs to catch up.

 

WoodMac analysts simulated 625 auction-tariff scenarios and found a median price of 2 cents per kilowatt-hour by 2022.

 

"Bid prices will continue their downward march pretty much everywhere. More sub-2-cent PV bids are likely, both in leading low-cost markets and in emerging markets that are launching solicitations. By 2022, awarded prices as low as $14/MWh will be old news," they write in the report.


Tags: solarenergyhardwaresolar panels

Read original article » Back to category

Comments



 

Recent headlines

  • Posted in Software on 2018-11-09 03:19:01
    OpenAI launches reinforcement learning training..read more
    Posted in Science on 2018-11-08 03:58:12
    Plan to find and explore Ocean Worlds and search for life..read more
    Posted in Medicine on 2018-11-06 01:18:21
    Glowing chemical 'could aid brain cancer surgery'..read more
    Posted in Business on 2018-11-06 01:11:11
    Space Force will be more about putting up new space.....read more
    Posted in Medicine on 2018-11-03 05:15:12
    MDMA therapy achieves astounding 76% success rate for.....read more
Posted in Business on 2013-10-10 01:33
China is working towards a manned lunar mission in about.....read more
Posted in Business on 2013-10-20 07:17
Spacex says China is their main competitor for commercial.....read more
Posted in Software on 2013-10-20 06:43
Pirate Bay Browser Clocks 1,000,000 Downloads..read more
Posted in Medicine on 2013-10-10 02:10
Google reportedly investing hundreds of millions into new.....read more
Posted in Medicine on 2013-10-14 03:13
Endothelial Cells Can Repair and Regenerate Organs,.....read more
Posted in Science on 01.01.2010
Spacex says China is their main competitor for commercial.....read more
Posted in Science on 01.01.2010
Staring at Your Phone Could Be Making You Short Sighted..read more
Posted in Science on 01.01.2010
Oculus Rift virtual reality headset coming to mobile, but.....read more
Posted in Science on 01.01.2010
China is working towards a manned lunar mission in about.....read more
Posted in Science on 01.01.2010
Delivering drugs via nanoparticles to target mitochondria..read more

Recent Blog Posts

  • Posted by AlexMuller
    Even light drinking increases risk of death..read more
    Posted by AlexMuller
    Researchers have discovered how to slow aging..read more
    Posted by AlexMuller
    Human retinas grown in a dish explain how color vision develops..read more
    Posted by AlexMuller
    The smartphone app that can tell you’re depressed before you.....read more
    Posted by AlexMuller
    Neural networks don’t understand what optical illusions are..read more

Login to your Account

Login to your PlanetTech Account here

Username:
Password:
Remember me
or

Create a New Account

You just need username and password

The following errors occured:
Username:
Email:
Password:
Verify password:
Remember me