According to the latest data, there are enough solar panels installed around the world to generate 1 terawatt (TW) of electricity, which is a milestone for the application of renewable energy.
In 2021, residential PV installations (mainly rooftop PV) had a record growth as PV power generation became more energy-efficient and cost-effective, while industrial and commercial PV installations also saw significant growth.
The world’s photovoltaics now generate enough electricity to meet the electricity needs of nearly all European countries – although distribution and storage constraints mean it’s still not enough to shake up the mainstream.
According to BloombergNEF data estimates, the global PV installed capacity exceeded 1TW last week, which means that “we can officially start to use TW as the measurement unit of PV installed capacity”.
In a country like Spain, there are about 3000 hours of sunshine per year, which is equivalent to 3000TWh of photovoltaic power generation. This is close to the combined electricity consumption of all major European countries (including Norway, Switzerland, the UK and Ukraine) – around 3050 TWh. However, only about 3.6% of electricity demand in the EU currently comes from solar, with the UK slightly higher at about 4.1%.
According to BloombergNEF’s estimation: Based on current market trends, by 2040, solar energy will account for 20% of the European energy mix.
According to another statistic from BP’s 2021 BP Statistical Review of World Energy 2021, 3.1% of the world’s electricity will come from photovoltaics in 2020 – given the 23% increase in installed photovoltaic capacity last year, it is expected that In 2021 this proportion will be closer to 4%. The growth in PV power generation is mainly driven by China, Europe and the United States – these three regions account for more than half of the world’s installed PV capacity.
Post time: Mar-25-2022