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Solar power continues to break records
PV makes one-third of new renewable capacity
Solar photovoltaic (PV) and concentrated solar thermal power (CSP) markets saw record-breaking growth in 2013 with around 39 GW of capacity installed worldwide. This means that solar capacity additions outpaced new wind power for the first time.
The figures come from a Vital Signs Online report from the Worldwatch Institute on PV and CSP markets. PV makes up much more capacity than CSP, but the latter is growing significantly, and 19 countries now have CSP plants.
According to the report, consumption of power from PV and CSP plants increased by 30% globally in 2013 to reach 125 TWh. Europe accounted for the majority of global solar power consumption at 67%, followed by Asia (24%) and North America (8%). Worldwide, solar consumption equalled 0.5% of electricity generation from all sources.
Despite this record growth in installations, global investments in solar electricity were down 20% (from $143bn in 2012 to $114bn in 2013). Worldwatch attributes this to a significant reduction in the costs of solar technologies.
According to the organisation, rooftop PV is less expensive per MWh than retail electricity in Australia, Brazil, Denmark, Italy, and Germany. Estimates indicate that PV has become price competitive without subsidies in 15 countries. For 2014, new solar installations are predicted to reach 40–51 GW.
The numbers show that China installed 13 GW of PV in 2013 – the most ever installed in a year by any country. Europe installed 11 GW, a decline from the peak of 22 GW in 2011 – a result of reduced feed-in tariff rates. The US installed the third most PV worldwide, with 4.8 GW.
- The growing affordability of solar PV means that projects like the first utility-scale solar PV plant in East Africa, which was recently completed, can come to fruition. The 8.5 MW project has increased the region’s electricity production capacity by 8%. The Norwegian company Scatec Solar is the engineering, procurement and construction company responsible for building the plant.
Estimates indicate that PV has become price competitive without subsidies in 15 countries
News Item details
Journal title: Energy World
Countries: Worldwide -
Subjects: Banking, finance and investment, Policy and Governance, Wind power, Photovoltaics, Concentrated Solar Power
