“Letting in the light: How solar photovoltaics will revolutionise the electricity system”
The share of global electricity generated by solar PV could grow to as much as 13 percent by 2030, according to a new report by the International Renewable Energy Agency (IRENA). “The solar industry’s expansion is driven primarily by cost reductions, with the report anticipating further cost declines by up to 59 percent in ten years,” writes IRENA in a press release. Annual PV capacity additions must more than double in 14 years to attain a 13 percent share in the electricity mix by 2030. Germany is projected to have 75 gigawatts of solar PV capacity installed in 2030, compared to the current 40 gigawatts.