How will solar PV & wind impact global electricity generation?

The share of solar PV and wind in global electricity generation is forecast to double to 25% in 2028 in our main case. This rapid expansion in the next five years will have implications for power systems worldwide.

How many PV solar installations are there in the world?

The resulting dataset expands the previous publicly available facility-level data for PV solar energy by 432% (in number of facilities), including 18,449 new installations in China, 9,906 in Japan, 4,525 in the United States, 2,021 in India and 17,918 in the European Economic Area.

What is the global solar PV capacity in 2023?

In 2023, global cumulative solar PV capacity amounted to 1,624 gigawatts, with roughly 447 gigawatts of new PV capacity installed in that same year. The growth in the solar PV use represents a shift of global markets towards renewable and distributed energy technologies.

How much did solar PV invest in 2022?

Global solar PV investments in capacity additions increased by over 20% in 2022 and surpassed USD 320 billion, marking another record year. Solar PV comprised almost 45% of total global electricity generation investment in 2022, triple the spending on all fossil fuel technologies collectively.

What is a solar photovoltaic system?

Solar photovoltaic is a renewable energy technology that utilizes sunlight in order to generate electricity. A photovoltaic system is comprised of one or multiple solar panels, made up of solar photovoltaic cells, and a solar inverter.

What is the IEA photovoltaic power systems technology collaboration programme?

The IEA Photovoltaic Power Systems Technology Collaboration Programme, which advocates for solar PV energy as a cornerstone of the transition to sustainable energy systems. It conducts various collaborative projects relevant to solar PV technologies and systems to reduce costs, analyse barriers and raise awareness of PV electricity’s potential.