About 600 gigawatts of solar was installed last year. If the industry grows at 30% a year this and next year, it will deploy just over 1 terawatt of solar power.
even though historical growth rates might suggest the 30% is probable, the industry’s growth has recently been atop China’s massive expansion. However, China has said they are at the annual capacity they want to- so the question becomes where will the next growth engine come from? Africa? India?
Interestingly, 1 TW of solar would generate between 1.2 and 1.5 PWh of electricity. Which is between 3.9 to 4.9% of 2024’s year’s electricity demand 30.5 PWh). 2026 might reach 31-32 PWh – which would mean 3.75 to 4.6% of all electricity demand will be deployed in one year.
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About 600 gigawatts of solar was installed last year. If the industry grows at 30% a year this and next year, it will deploy just over 1 terawatt of solar power.
even though historical growth rates might suggest the 30% is probable, the industry’s growth has recently been atop China’s massive expansion. However, China has said they are at the annual capacity they want to- so the question becomes where will the next growth engine come from? Africa? India?
Interestingly, 1 TW of solar would generate between 1.2 and 1.5 PWh of electricity. Which is between 3.9 to 4.9% of 2024’s year’s electricity demand 30.5 PWh). 2026 might reach 31-32 PWh – which would mean 3.75 to 4.6% of all electricity demand will be deployed in one year.