L R AS Published on Monday 17 January 2022 - n° 389 - Categories:evolution-stat
Highlights of the IEA-PVPS report
Tecsol presents the highlights of the IEA-PVPS report
- The market grew again to 145 GW in 2020 and even more GW were installed in 2021 despite the pandemic.
- China continues to dominate the global PV market, but the US, EU and Japan also play a key role. Only India has seen a significant decline in the market due to legal and regulatory constraints.
- PV development is now widespread on all continents, although Africa and parts of Latin America, Europe and Asia have yet to embrace the solar energy transition.
- As the policies become more complex, so do the barriers to PV adoption: as PV becomes more widespread, new barriers that stifle its development are being put in place.
- The PV fleet at the end of 2020 saves 860 million tonnes ofCO2 equivalent per year, which is proportionally more than its share in the electricity mix. PV is a key tool for decarbonising the economy as a whole (not just the electricity sector), enabling a competitive switch from fossil fuels to electricity for transport and construction applications.
- As the PV sector grows rapidly, it is contributing more and more to the global economy, including creating millions of jobs.
- In short, PV is now a dominant source of electricity, at the heart of the energy transition. Although more and more GWs are needed to effectively address the challenges of climate change, the accelerated and unstoppable global development of PV presents an immediate path to decarbonisation. This is not just a future prospect but a current reality in 2021.
To read the study: https: //tecsol.blogs.com/files/iea-pvps-trends-report-2021-1.pdf
Tecsol of 9 January 2022
