Solar PV market set for growth over next 5 years: IEA

21/10/2019 09:42 Solar

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The world’s total renewable-based power capacity will grow by 50% between 2019 and 2024, according to an International Energy Agency (IEA) report on Monday.

According to the IEA's latest renewable energy market forecast entitled "Renewables 2019" report, the additional capacity of 1,200 gigawatts (GW) [between 2019 and 2024] is driven by cost reductions and concerted government policy efforts.

 

"The installation of solar PV systems on homes, commercial buildings and industry is set to take off over the next five years," IEA said and added that the applications are mostly distributed Photovoltaics (PV). The agency also stated that solar PV accounts for 60% of the rise.

 

The share of renewables in global power generation rises from 26% today to 30% in 2024.

Source: aa.com.tr

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