Solar energy trends 2024

What are the key trends shaping the solar energy landscape in 2024?

Welcome to an exploration of the key trends shaping the solar energy landscape in 2024. As the world increasingly embraces renewable energy solutions, we’re seeing rapid growth in solar, driven by technological advancements, economic benefits, and a growing environmental consciousness.

Will solar add more GWS in 2024?

The massive step up in solar capacity installations in 2023 and 2024 has shifted perceptions around solar’s role in the energy transition. Solar will likely add more GWs in 2024 than the entire global increase in coal power capacity since 2010 (540 GW).

Will solar energy grow in 2024?

While solar energy has traditionally thrived in developed countries, 2024 is likely to witness significant expansion into new markets. Key drivers include: Decreasing Solar Costs: As technology advances and production scales up, the cost of solar panels and installations continues to decline, making them more accessible to developing countries.

Will utility-scale solar increase in 2024?

Solar. We expect a record addition of utility-scale solar in 2024 if the scheduled 36.4 GW are added to the grid. This growth would almost double last year’s 18.4 GW increase, which was itself a record for annual utility-scale solar installation in the United States.

Are new solar installations increasing in 2024?

In the US, new solar additions in January-June 2024 are 55% higher than in January-June 2023. Capacity data from European countries showed continued growth in solar installations, albeit at a more modest pace than in previous years for some countries.

What will BNEF & Solarpower Europe do in 2024?

Beyond 2024, outlooks for the rest of the decade from BNEF and SolarPower Europe are now aligned with the Global Renewables and Energy Efficiency Pledge, which aims to triple renewable power capacity by 2030. Achieving this would mean that solar power generates a quarter of the world’s electricity by the end of the decade.