While the global solar power installed capacity was recorded as 940 gigawatts at the end of 2021, it rose to “terawatt” level as of May.
According to the “Solar Energy Global Market Outlook” report prepared by SolarPower Europe and announced at the Intersolar Europe Solar Energy Conference and Fair, 200 gigawatts of capacity will be added to the global solar energy installed power rose to “terawatt” level as of May.
Despite the disruptions in the supply chain due to the Covid-19 outbreak, investments in solar energy continued unabated in the last 3 years.
As a new era is entered in the global solar energy market, with the critical threshold being crossed, the said capacity is expected to reach 2.3 terawatts by 2025. In 2012, exceeding 100 gigawatts in solar installed power was considered the critical threshold.
The “age of terawat” has begun in the sun
SolarPower Europe President Aristotelis Chantavas, in his evaluation of the report, stated that the “terawat age” has been entered in the sun and that the 2 terawatt capacity threshold will be reached within 3 years.
Stating that solar energy is the fastest growing and developing resource globally, Chantavas said:
“In 2021, 302 gigawatts of renewable energy capacity has been installed. 168 gigawatts of this is solar energy. The whole world has seen that solar energy is successful in combating climate change and is important in terms of enabling countries to be independent in energy. Solar energy gives us a little bit of energy in today’s world of extraordinary energy prices. It will provide relief.”
SolarPower Europe CEO Walburga Hemetsberger also informed that this year’s 39 gigawatts of additional capacity would replace 4.57 billion cubic meters of Russian natural gas in the European solar market.