The Era of Renewable: Solar
The growth in demand for clean energy has reached unprecedented levels, and at a rate underestimated by many governments. Solar energy is the dynamic driver of this growth and decisions made now about how to tackle challenges and sustain innovation will shape the future success of the industry and the communities and nations that rely upon it.
Expansion of the industry is fueled by the changing nature of supply and demand, optimised through digitalisation and smart home technology, and shifts in consumer expectations. Their requirement is for greater choice and more comprehensive services that are seamless, intuitive and personalised.
Solar is the fastest growing source of renewable energy and has overtaken the growth of all other forms of power generation. New solar capacity even outstripped the net growth in coal, and although coal is still the largest source of power generation, the IEA states that solar will continue to dominate future growth. Energy from renewable sources now contributes 12% of the world’s electricity supply and is predicted to increase to 30% in 2022.
Drivers of growth
*The reasons behind market growth are interrelated:
Reduced cost of technology
*Government initiatives and policy
*Innovation in solar technology
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