Solar Energy’s Increasing Potential and Overall Outlook for 2021 - What To Look Forward To

Solar energy has been high on the renewable energy radar since the mid-2000s and is becoming increasingly relevant across the globe in this year. In fact, the development of solar power systems is predicted to continue breaking records with annual additions that will reach 162 Gigawatts (GW) by 2022 - bringing the value to almost 50% higher than the 2019 pre-pandemic level. Here’s why solar energy is the future.?

Bloomberg has noted that the main solar industry group in China is expecting a record surge in business over the next five years following President Xi Jinping’s September announcement that the country will zero out carbon emissions by 2060. China currently has the world’s largest installed solar energy fleet, with the largest single solar project being the Huanghe Hydropower Hainan Solar Park (2.2 GW) in Qinghai province. Despite the lockdown of large parts of the country last year, a majority of businesses were still very much keen on solar. The photovoltaic industry of the country is expecting new installations to soar through 2025 with an estimated 90 GW per year beginning 2021.?

Second to China is the United States with the world’s second-largest installed solar capacity, totalling 76 GW and producing 93.1 TWh of electricity in 2019 itself. In the coming decade, US solar installations are forecasted to reach 419 GW as the country accelerates its clean energy efforts and attempts to fully decarbonise its power system by 2035. The country, in fact, has recently kicked off their ‘Summer of Solar 2021’ campaign in Washington with the nationwide launch of the Solar Automated Permit Processing Plus (SolarAPP+). Solar APP+ is a free web-based platform that gives local governments the ability to expedite their review and approval of residential solar installation permits. This campaign and platform aims to drastically reduce barriers to solar deployment, spur community economic development and advance the Biden-Harris Administration’s clean energy goals.?

Apart from the two main solar energy players of the world, other countries in Europe also seem to have a bright and sunny future. Spain specifically has noted a 60% increase in electricity from solar farms in the past year compared to 2019. In 2020 itself, the country generated as much as 15 Gigawatt hours of power, according to data from grid manager Red Electrica. Spain’s solar energy sector is currently on track to grow at about double of EU leader Germany’s pace in the next two years, potentially positioning the country as the EU's upcoming solar energy generator.?

This is just a glimpse into the evolution of solar energy and the beginning of a whole new renewable energy movement as solar-generating efforts ramp up across the globe. It is clear that solar is the most sought-after form of renewable energy and will continue to be in demand for at least the next decade. Looking forward to what further lies ahead for solar energy as we move towards a more environmentally-friendly and sustainable way of living.