Solar power to grow sixfold by 2030 as costs fall

• 8 years ago (2016-06-24)
• David Flin

North America 1004 Renewables 757

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The amount of electricity generated using solar panels is likely to expand as much as six-fold by 2030 as the cost of production falls below competing natural gas and coal-fired power plants, according to a report by the International Renewable Energy Agency (IRENA). The IRENA report said plants using photovoltaic technology could account for 8-13 per cent of global electricity produced in 2030, compared with 1.2 per cent at the end of 2015.

Bloomberg New Energy Finance also forecasts growth in solar photovoltaics, reaching 15 per cent of total electricity output by 2040.