The year 2023, according to National Renewable Energy Laboratory analyst David Feldman, was a year of historic proportions in the solar power industry.
“It is an order of magnitude difference between when we started compiling analyst projections in 2009 and where we are now,” Feldman said. “Solar has gone from a niche source of electricity to one of the key players in the energy ecosystem, not just in the clean power sector but for the whole energy sector.”
According to International Energy Agency reports, global PV installations increased dramatically, with up to 446 gigawatts of direct current (GWof PV could be installed by 2050. That is 66% more generation capacity than all the electric generation assets currently installed around the world combined. That much energy could simultaneously power about 200 LED lightbulbs for every human on Earth.
“It’s gone from a one-way conversation to a format that allows stakeholders to communicate with the data by looking at the long-term trends and focusing on what is important to them,” said Jarett Zuboy, an author of the update.