The share of global electricity generated by solar photovoltaics (PV) could increase from 2% at present to as much as 13% by 2030, according to a new report.

The International Renewable Energy Agency (IRENA) thinks solar capacity could rise from 227GW to between 1.76TW and 2.5TW by 2030.
Adnan Amin, Director-General at IRENA, said: “Recent analysis from IRENA finds that cost reductions for solar and wind will continue into the future, with further declines of up to 59% possible for solar PV in the next ten years.

“This comprehensive overview of the solar industry finds that these cost reductions, in combination with other enabling factors, can create a dramatic expansion of solar power globally. The renewable energy transition is well underway, with solar playing a central role.”

Demand up 50%

Amin pointed out that global electricity demand is expected to grow by more than 50% by 2030, mostly in developing and emerging economies.
He added that solar will need to be implemented to its full potential in order to meet sustainability goals.

Solar capacity will need to double on average each year between now and 2030 in order to reach a 13% share, IRENA calculated.

> Download the report