Latest solar power generation policy

Will solar power increase global renewable power capacity by 2030?

Globally, solar PV alone accounted for three-quarters of renewable capacity additions worldwide. Prior to the COP28 climate change conference in Dubai, the International Energy Agency (IEA) urged governments to support five pillars for action by 2030, among them the goal of tripling global renewable power capacity.

How does policy support affect solar PV deployment?

Policy support remains a principal driver of solar PV deployment in the majority of the world. Various types of policy are behind the capacity growth, including auctions, feed-in tariffs, net-metering and contracts for difference.

Will solar power grow in 2023?

Solar PV proved to be resilient in the face of supply chain bottlenecks, high commodity prices and the increase in interest rates experienced in 2022, and achieved another record annual increase in capacity (220 GW). This should lead to further acceleration of electricity generation growth in 2023.

How much solar energy is installed in 2023?

The Solar Energy Industries Association, which has different definitions of “placed-in-service,” reported 40.3 GW dc of PV installed in 2023, 186.5 GW dc cumulative. The United States installed approximately 26 GW-hours (GWh)/8.8 GW ac of energy storage onto the electric grid in 2023, up 34% y/y.

How many GW of solar capacity will be deployed in 2020?

Compared with the approximately 15 GW of solar capacity deployed in 2020, annual solar deployment is 30 GW on average in the early 2020s and grows to 60 GW on average from 2025 to 2030. Similarly substantial solar deployment rates continue in the 2030s and beyond. Deployment rates accelerate for wind and energy storage as well.

Will solar and wind energy lead the growth in US power generation?

Solar and wind energy will lead the growth in U.S. power generation for at least the next two years, according to EIA estimates. This report uses data from the EIA to analyze solar and wind capacity and generation over the past decade (2014 to 2023) in all 50 states and the District of Columbia.