iea

Investment in solar PV is expected to surpass all other generation technologies combined with over US$500 billion, according to a report from the International Energy Agency (IEA).

Low solar module prices kept solar PV competitive in the energy market in 2023 despite generally falling electricity prices.

Clean energy added about US$320 billion to the world economy last year, accounting for 10% of global GDP growth in 2023, according to a study from the IEA.

Solar PV deployments increased by 85% year-on-year in 2023, more than any other renewable technology in a year which saw clean energy deployments curb the rise in carbon emissions.

IEA and Wood MacKenzie talk about grid connection issues worldwide and what countries need to do to upgrade the grid.

Electricity generation from low-emission sources such as solar, wind, hydro, and nuclear will cover all global demand growth to 2026.

Global renewables capacity will reach 7.3TW by 2028 under existing policies and market conditions, according to the IEA.

Latin America and the Caribbean need to double financing for clean energy projects to US$150 billion by 2030 to fulfil the Announced Pledges Scenario (APS), according to the International Energy Agency’s Latin America Energy Outlook.

Renewables are set to contribute 80% of new power capacity to 2030 in the stated policies scenario (STEPS), with solar PV alone accounting for more than half of it, according to the International Energy Agency (IEA).

Over 1,183GW of solar PV plants have been installed as of the end of 2022, of which 65% were added in the last five years.