The world completed 2021 year with an impressive number of installed solar capacity – 843,086MW, and what is more stunning is that many countries continue to increase the number of installations.

Based on the achieved results, The International Renewable Energy Agency (IRENA) announced the World Energy Transitions Outlook at the Berlin Energy Transition Dialogue. The report highlights the priority actions that will need to be taken between now and 2030 to keep the goal of limiting the global temperature increase to 1.5 °C within reach. 

In our third delivery of the Global Energy Crisis series, Eco Green Energy prepared a short overview of how the renewable sector pretends to develop, especially the solar one.

Climate regulation 1.5 °C scenario to prevent Global Energy Crisis

According to defined KPIs by 2030, it is required to ensure renewables will reach at least 65% of the global annual energy mix in 2030, up from 14% at present. 

Secondly, the Outlook forecasts reaching a total of 8 000 GW of renewable capacity in this decade. In addition, hydropower capacity will increase by 1500 GW, which is 30% higher than in 2020. PV installation capacity will grow up to 5 200GW.

Furthermore, the IRENA report highlights that the share of direct electricity in total final energy consumption (TFEC) must rise from 21% to 30%. It means the deployment of energy effi­ciency measures must increase 2.5 times. It is possible expansion the electrification of energy services, especially in the transport sector. Moreover, energy efficiency will improve through the modernization of existing buildings as the application of electric technologies for domestic heating.

Under the energy transition scenario set out in the Outlook, global energy-related emissions fall by almost 30% this decade.

Anticipation of the renewable sector global development under the Global Energy Crisis

The Outlook suggests scaling up power generation capacity due to the 1.5°C targets. Asia, North America, and Europe may account for more than 80% of installations by 2030.

Asia needs to scale up four times to reach more than 5 400 GW of renewable capacity by 2030, while North America and Europe will have to ramp up installations by around five-fold and three-fold, respectively. The scaling factors for the Middle East and Africa are even greater. In fact, renewable energy now is the cheapest power in most regions, and due to the newly commissioned utility-scale solar photovoltaic (PV) projects, the price fell by 85% between 2010 and 2020.

What about solar energy?

Unlimited technical potential led to the quick expansion of solar PV. As was mentioned, by 2030, the installed capacity will reach nearly 5200 GW. Meeting those targets will involve annual additions of 450 GW in this decade, most of it in the form of utility-scale installations.

Over the past decade, Asia added 40 GW of solar PV each year – and nearly 80 GW in 2020. With such annual additions, it is possible that Asia (China and India) will continue to dominate the market.

Due to that, Europe and North America doubled their solar PV installations in 2020 over the average levels in the previous decade. The two regions are expected to account for 19% (98GW) and 14% (55 GW)of global solar PV installations by 2030.

Solar energy is one of the most important renewable resources available in the Middle East and Africa. Hence, these regions should strongly focus on solar PV projects, as they will require 70 GW of yearly installations in this decade. Additionally, Latin America will have to add 20 GW each year and Oceania/Pacific more than 2 GW.

Although solar PV has made good progress in recent years, there are obstacles to its growth, such as limitations in grid connection and flexibility, a lack of skilled workers, or unfavoured policies. The solar sector is possible to make more attractive with innovative market designs and business models such as peer-to-peer electricity trading and community ownership. Also, providing time-of-use tariffs and net billing schemes will positively influence.

EGE Solar Global Contribution

For that reason, our PV modules are the best choice for transition energy security with high-efficiency panels (21.40%) and top-notch 12BB M12 Half-cell cut technology. Eco Green Energy always contributes efficient solutions by offering excellent quality PV modules. Our partners worldwide have already installed more than +70 projects, from Residential-Office applications to Large Industrial Projects.

Here is one exciting solar plant near Rio Hurtado, Ovalle, Coquimbo Region. Our EPC completed the project with 300 pcs of EOS poly 340W, providing up to 18.04% efficiency. The total capacity of this solar plant is 100kW.

Another installation is from the heart of Asia, Pakistan, and was completed for flour mill production in Sirewari, near Sanghar district in Khipro city. Our distributor covered the mill’s area with 104 pcs of EGE Atlas 540W 10BB Mono. Our Atlas series contain Gallium-dopped technology with 21.28% maximized efficiency, ensuring pure energy.

Our authorized distributor completed the project for commercial purposes in charming New Caledonia. He applied 185pcs of the high-trend EGE ATLAS 540w Bifacial solar panels. The total power output is 100kW.

Feel free also to contact us for more information: info@eco-greenenergy.com

Keep yourself up-to-date on Solar News, Trends, Applications, and more with our weekly LinkedIn Newsletter.

For more information about our PV module Atlas Plus, also visit our product page.

References

1. IRENA, 2022 – World Energy Transitions Outlook: 1.5°C Pathway https://irena.org/-/media/Files/IRENA/Agency/Publication/2022/Mar/IRENA_World_Energy_Transitions_Outlook_2022.pdf
2. Globaldata, 2019 Global solar photovoltaic capacity expected to exceed 1,500GW by 2030, says GlobalData https://www.globaldata.com/global-solar-photovoltaic-capacity-expected-to-exceed-1500gw-by-2030-says-globaldata/
3. Offshore energy, 2022  Answers to energy security and climate change concerns lie in energy transition, IRENA says https://www.offshore-energy.biz/answers-to-energy-security-and-climate-change-concerns-lie-in-energy-transition-irena-says/
4. World Economic Forum, 2021 This chart shows how fast renewable energy must grow to reach the world’s net-zero targets https://www.weforum.org/agenda/2021/12/doubling-renewable-energy-net-zero-emissions/#:~:text=The%20IEA%20says%20almost%20two,years%20%2D%20double%20the%20current%20rate.
5. United Nations, 2021 Proposed global roadmap shows how universal access to sustainable energy can be achieved by 2030 https://www.un.org/en/desa/sustainable-energy-can-be-achieved-2030
6. Edie, 2022 World leaders must ‘radically’ scale up renewable energy now, IRENA warns https://www.edie.net/world-leaders-must-radically-scale-up-renewable-energy-now-irena-warns/