Solar PV will lead renewables electricity generation by 2050

Solar PV will lead renewables electricity generation by 2050

The use of renewables will increasingly dominate global electricity production over the next decades, and solar photovoltaic (PV) will help meet almost half of the demand, delivering 40% of electricity generation. This is one of the main conclusions of DNV GL’s “Energy Transition Outlook (ETO) 2018: Power Supply and Use” report, which provides an outlook of the global energy landscape up to 2050.

The report forecasts that as solar and other renewables are increasingly integrated into the grid there will be a crucial need for utilities to incorporate more flexibility and new technologies, including greater energy storage capacity, to mitigate the potential effects of intermittent power supply. Regulators and policy makers will also need to respond to the evolving electricity market dynamic by creating new market mechanisms that support solar and wind generation.

“The rise of renewables presents opportunities and challenges for utilities and other stakeholders in the transition to cleaner sustainable energy options, including ‘behind the meter generation’ dominated by solar-plus-storage,” said Richard S. Barnes, DNV GL executive vice president energy North America.

Source: Solar Power World

Date: November 2018

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