China advances the list of the largest photovoltaic solar energy producers in the world, with 254,345 MW of installed capacity.
Solar PV can be quickly deployed in a wide variety of locations.
Furthermore, according to the International Renewable Energy Agency (IRENA), it is one of the strategic renewable energy solutions needed to transform energy systems.
Indeed, IRENA highlights that this energy has the potential to generate more than 25% of all the electricity needed in 2050 and to reduce CO2 emissions by 4.9 Gt per year in 2050, equivalent to 21% of the total emission mitigation potential. in the energy sector.
After China, the following were placed: the United States (75,571 MW), Japan (66,999 MW), Germany (53,783 MW) and India (39,211 MW).
The rapid deployment of this energy in different continents was possible thanks to the drastic reductions in its costs.
As capacity increased, installation costs for photovoltaic solar panels, as well as the levelized cost of electricity (LCOE) for photovoltaics, decreased dramatically.
Other outstanding producing countries are: Italy, Australia, Vietnam, Republic of Korea and Spain.
Photovoltaic Solar Energy
Increasingly, newly installed power capacity of this type costs less than cheaper fossil fuel-based power generation options, and current IRENA predictions indicate that total installation costs could decline to as much as $ 340 / kilowatt ( kW), and that the LCOE could drop to $ 0.02 / kilowatt-hour (kWh) by 2030.
This would mean a reduction of approximately another three-quarters compared to current values.
While these cost reductions are not occurring to the same extent in all regions, a substantial decrease in costs can be seen across the globe.
The deployment of photovoltaic solar energy varies according to the regions of the world.
In 2018, two-thirds of new solar PV installations worldwide occurred in Asia, followed by Europe and North America.