Ranking the world’s largest producers of solar energy based on the BP Statistical Review of World Energy 2022.
The International Renewable Energy Agency (IRENA) says reaching global targets is feasible if the $103.3 trillion (USD 700 billion) per year channeled into fossil fuels is immediately diverted to the transition.
From pv magazine USA
Solar photovoltaics is set to be the number one technology deployed across the globe for energy production, increasing the world’s installed capacity by 75% through 2027, adding 2,400 GW over the period, said the International Energy Agency (IEA).
The IEA report said that renewable energy expansion is 90% of the planned additions worldwide, and solar accounts for over 60% of all forecast renewable capacity expansion, setting records for annual additions every year through 2027. Cumulative PV capacity nearly triples in the IEA forecast, growing by almost 1,500 GW, and exceeding natural gas by 2026 and coal by 2027.
Cost declines and the desire to boost national energy security and climate resilience are driving widespread adoption. In the U.S., the cost of utility-scale PV fixed tilt was $7 per Watt (USD 4.75/W) in 2010, and it declined to $1.4 per Watt (USD 0.94/W) by 2020.
The world will need 5.2TW of solar power generation capacity by 2030, and 14 TW by mid century, to have any chance of limiting global average temperature rises this century to 1.5 degrees Celsius, said the International Renewable Energy Agency (IRENA).
Below is the list of the 15 largest producers of solar energy today, ranked in terms of operational capacity as reported in the BP Statistical Review of World Energy:
15) Ukraine – 8.06 GW
14) Brazil – 13.05 GW
13) Spain – 13.65 GW
12) United Kingdom – 13.69 GW
11) Netherlands – 14.25 GW
10) France – 14.71 GW
9) Vietnam – 16.66 GW
8) South Korea – 18.16 GW
7) Australia – 19.07 GW
6) Italy – 22.69 GW
5) India – 49.34 GW
4) Germany – 58.6 GW
3) Japan – 74.19 GW
2) United States – 93.71 GW
1) China – 306.4 GW
The world will have to install 450GW of new solar capacity each year – most of it utility scale – for the rest of this decade, with China and India to lead Asia to a roughly half share of the world’s installed PV capacity in 2030, estimated IRENA’s World Energy Transitions Outlook report.
Elsewhere, North America will need to install 90 GW per year of solar to claim a 14% share of the world’s operating panels at the end of the decade, and Europe’s 19% slice of the pie will require 55 GW of annual solar capacity additions.
The world will have to start devoting $8.4 trillion (USD 5.7 trillion) per year to the energy transition for the rest of the decade to reach these targets, said IRENA. That can be feasible if the $103.3 trillion (USD 700 billion) per year channeled into fossil fuels is immediately diverted to the transition, the publication stated. Public investment in the transition will have to immediately double, too, said IRENA, to attract the remaining money needed from the private sector, which would bear most of the financial burden.
Francesco La Camera, director-general of IRENA said, “Progress across all energy uses has been woefully inadequate.”
IRENA said policymakers also need to usher in sufficient international grid connections and flexibility; training; utility scale batteries; electricity demand-side management; digital tools; peer-to-peer power trading; community ownership of renewables; time-of-use energy tariffs; and net billing systems.
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More articles from Ryan Kennedy
I have no idea where this “have to install” has come from… as it depends on what you want to achieve..
Globally.. today.. to SUPPLY ALL OF MANKINDS ENERGY NEEDS TO USHER IN A ZERO POLLUTION EARTH… one would need a 100TW Solar PV Sysyem ( preferably AgriVoltaics) generating 1 20,000TWhrs/yr..
As this will NOT HAPPEN OVERNIGHT.. a 150TW System generating 180,000TWhrs/yr by 2050 is more reasonable to meet the needs of a Zero Pollution Earth..
This will require 5TW/yr for the next 30Years.. much much more than the 450GW/yr .. !!!
This ZERO POLLUTION EARTH will require an INVESTMENT (not an Expenditure with zero returns) of $400 Trillion.. or about $13 Trillion/yr for 30 years… for BOTH the Supply of Pollution Free PV Electricity ($200 Trillion) and Conversion of Energy Users Facilities and Equipment (Industry, Transportation, Agriculture, Commercial, Residential etc..)..$200 Trillion..
A PMP.. Polluters Must Pay .. Levy imposed on ALL POLLUTERS TODAY to Offset the Societal Costs of Pollution … 9 Million Pre-Mature Deaths /yr ($1Million/Victim) and 275Million DALY of Suffering ($100,000/DALY) .. can generate $36.5 Trillion/yr & Usher in a ZERO POLLUTION EARTH within a Dozen Years.
Such a UNIFORM GLOBAL PMP LEVY OF $0.31/KWhrs on the 120Trillion KWhrs of (Polluting) Energy used TODAY.. would OFFSET the above Societal Cost(s)… of $36.5Trillion/yr…
What are World “Leaders” waiting for.. after having raised the PMP Principle in 1972 at the UNEP .. and then again at the 1992 Rio Agreement (Prinxiple #16) .. the purposely “hidden from view” by full Collusion between THE POLLUTERS & GLOBAL LEADERS & OFFICIALS… AS MORE-N-MORE PEOPLE SUFFERED & DIED TO THEIR MASS MURDERS AND ASSAULTS ON HUMAN LUFE..
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