Solar power will become the largest source of power generation globally by 2035, producing almost 40 per cent of all electricity, according to renewable energy company Statkraft. The prediction was the conclusion of the company’s fourth annual assessment of global energy trends, released yesterday. It brings forward the solar sector’s forecast dominance by five years compared with last year’s analysis, which stated that solar power would generate almost 30 per cent of electricity by 2040. Solar PV is the fastest growing energy source in the world, with production increasing by 25 per cent last year, Statkraft said. A sharp reduction in the production costs of solar PV panels, a relatively short development time for projects, and increasing demand for renewable energy means that the growth of solar PV will dominate the energy sector towards 2050, it predicts.
Business Green 10th Sept 2019 read more »