solar energy capacity increased by 3.9 GW. In comparison to the previous year, it has increased by over 59 percent. It has also played a major role when it comes to electricity generation using renewable energy sources, accounting for 13.5% of total electricity generation by natural resources, as per solarquarter. With more push from the government and more available green technologies, there is no doubt that in the coming year, we might see some tremendous growth in the solar energy sector. Today we are going to look at the top solar energy statistics that are making headlines across the world. Also, some top trends that we might see coming to fruition in the near future.

Growth and Adoption of Solar Energy Statistics

In the following decades, solar energy is anticipated to overtake other sources of electricity as the least expensive option in many places of the world. In most of the world by 2050, solar PV might be the least expensive source of electricity, according to the International Renewable Energy Agency. (Source: International Renewable Energy Agency)

More and more houses and companies are using solar energy to power their operations. According to the Solar Energy Industries Association, the number of solar panel installations on houses and businesses climbed by 23% in the United States in 2020. (Source: Solar Energy Industries Association)

Solar Energy growth In U.S 2022 and 2023 – As per the U.S Energy Information Administration department, in the year 2023, it is expected that solar energy will grow by 33 GWac, compared to 26 GWac in the year 2022 and 19 GWac in 2021. However, this number still falls short when compared to our energy requirements by 2050. Global energy demand is expected to rise by 47% by 2050, according to spglobal . We need to accelerate our adoption of clean energy. We need to meet our demand for energy in the future. Source:

The world’s most rapidly expanding form of renewable energy is solar electricity. Solar energy accounted for about two-thirds of new renewable capacity additions in 2019, according to the International Energy Agency. (Source: International Energy Agency)

In recent years, solar energy has become much more affordable. Since 2010, the price of solar photovoltaic (PV) systems has decreased by more than 70% in the US. (Source: U.S. Department of Energy)

A sizable amount of the world’s energy needs might be satisfied by solar energy. According to the International Energy Agency, solar energy might meet up to 27% of the world’s electrical needs by 2050. (Source: International Energy Agency)

Solar panel installations are rising across the globe. Global solar panel installations increased from 109 GW in 2019 to a record-breaking 121 GW in 2020. (Source: International Renewable Energy Agency)

In underdeveloped nations, solar energy is gaining popularity. The International Renewable Energy Agency reports that emerging nations have installed a lot more solar panels recently, with China, India, and Brazil leading the way. (Source: International Renewable Energy Agency)

Urban regions are adopting solar energy more and more. The International Renewable Energy Agency predicts that in the upcoming years, the usage of solar energy in urban areas will expand dramatically and have the potential to give a sizable economic benefit. (Source: International Renewable Energy Agency)

Solar Energy sector increase in Texas, Florida, and California. These states accounted for nearly 45 percent of the 4.3 GWac of PV installed in the first three months of 2022. Because Texas and California are among the states in the United States that receive the most sunlight in the U.S country, This trend is expected to grow more as there is still a lot of potential for these states to grow in adoption of solar energy.

PV Imports in U.S – In the first quarter of 2022, the U.S. imported 4.9 GWdc of PV. According to a year-on-year comparison, we have seen a 23 percent decrease in PV imports. However, the global PV market is affected by unfair trade practises, which are hampering and slowing down the actual growth rate of the solar industry.

China Aim Big In Concentrated Solar Power – China has announced thirteen new concentrated solar power (CSP) projects that aim to generate 1.35 GW of solar power in the country. As of 2022, there are almost 30 CSP projects in China. You can refer to the following chart to know the status of every CSP project in China.

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