Doubling the share of renewables in the global energy mix by 2030 can save up to USD 4.2 trillion annually by 2030, according to a new report by the International Renewable Energy Agency (IRENA). Savings would be up to 15 times higher than costs, thanks to avoided expenditures on air pollution and climate change.
Figures released on yesterday by utility solar authority Wiki-Solar.org show that global capacity of large-scale PV generating capacity exceeded 60 GW at the end of 2015. More than 22 GW of new plants were commissioned in 2015, setting a sixth consecutive annual record.
Roland Berger Strategy Consultants released last week the ‘Solar PV could be similar to the shale gas disruption for the utility industry’ report stating that solar PV market, which has developed from a niche market segment into a high growth market, will be a game changer for the utility industry.
China will remain the world’s largest market for annual solar Photovoltaic (PV) installations with slightly over 17.6 Gigawatts (GW) in 2015, an increase of approximately 7 GW on the previous year, according to research and consulting firm GlobalData.