Solar - September 1, 2020
Solar breaks record for new capacity in 2019
Solar power was overwhelmingly the most installed power-generating technology in 2019, with a record 118 GW of capacity constructed that year, a new report found.
BloombergNEF found that one-third of all countries made solar their top choice last year, with 45% of all new capacity coming from photovoltaic installations. Eighty-one countries built at least 1 MW of solar in 2019.
The report also found that wind and solar together accounted for over two-thirds of the new capacity installed worldwide in 2019. When including hydropower, renewables made up three-fourths of all commissioned capacity in 2019.
There was a total of 651 GW of solar capacity worldwide at the end of 2019, representing the significant growth solar has seen over the past decade; total capacity was just at 43.7 GW in 2010. In 2019, solar became the fourth largest source of power on a capacity basis, behind coal (2,089 GW), gas (1,812 GW) and hydro (1,160 GW).
“Sharp declines in solar equipment costs, namely the modules that go on rooftops and in fields, have made this technology widely available for homes, businesses and grids,” Luiza Demôro, BNEF analyst and lead author of the study, said in a statement. “PV is now truly ubiquitous and a worldwide phenomenon.”
Despite occupying a large portion of the power capacity, solar accounted for 2.7% of electricity generated worldwide in 2019, up from 0.16% a decade ago. However, BNEF expects the market to continue to grow, estimating 140-178 GW of new solar to be built in 2022.
While there are more coal plants online now than a year ago, they are running less often and between 2018 and 2019 there was a 3% drop in the power produced from coal. Overall, BNEF estimated that the global power sector reduced CO2 emission 1.5% between 2018 and 2019.
- Carbon Offset Prices Could Rise by Fifty-Fold by 2050
- Two Thirds of Largest Global Emitters Found to Have Net Zero Targets
- Renewable Energy Investments Up in First Half of 2021
- Global wind market grew 59% in 2020 despite pandemic
- Energy transition investment reached $500 billion in 2020
Share this valuable information with your colleagues using the buttons below:« Back to News
- Amazon, Meta Top List of Energy Customers
- SED's WISE Award Winners Announced
- General Motors, 24/7 Carbon-Free Matching, and Community Solar Added to REF Agenda
- Weekend Reads: Renewables Pit Google Against Utilities; Wind Power on Mars
- Saint-Gobain Signs PPA for 145 Sites
- Weekend Reads: All About COP27; Wind Power Makes Its Debut in the Gulf of Mexico