Global solar photovoltaic (PV) electricity generation need to grow by 25 percent year-on-year from 2022 through 2030 to reach net zero emissions scenario, reaching an annual 7,400 TWh by 2030, the International Energy Agency (IEA) estimates, Trend reports via the latest publication from the agency.
According to the statistics, solar PV energy production in 2021 increased by 22 percent year -on-year, or 179 TWh, which is a record high, and exceeded 1,000 TWh. This shows the second largest growth of renewables last year, after wind energy.
"Solar PV [in 2021] accounted for 3.6 percent of global electricity generation, and it remains the third largest renewable electricity technology behind hydropower and wind," the report added.
Among the largest contributors to the solar PV power generation are China (38 percent), the US (17 percent), and the EU (10 percent), the IEA said.
"Solar PV proved to be resilient in the face of COVID-19 disruptions, supply chain bottlenecks and commodity price rises experienced in 2021 and achieved another record annual increase in capacity (almost 190 GW). This, in turn, should lead to further acceleration of electricity generation growth in 2022," the IEA said.
Meanwhile, several policy changes and targets, such as the Chinese 14th Five-Year Plan, US's Inflation Reduction Act (IRA), the EU's further increase in renewable energy deployment target, and India's ambitions to boost total non-fossil capacity and electricity generation from renewables by 2030, will be principal drivers of solar PV deployment in the long term, the Agency concluded.