- Its growth will be the fastest of any energy source up until 2022.
- Recent growth of solar power has been faster than that of coal (even in the US).
- China is the worlds largest market. But India is set to double its capacity over the next 5 years overtaking the EU.
- On price it and other renewables are comparable to conventional forms of generation but could soon be cheaper.
- Growth of solar power will be twice as fast as gas and coal combined over the next 5 years.
The IEA warn that integrating renewables will be a challenge and requires careful management and storage such as batteries. Soon you will be able to get paid for using your car as a grid battery it was announced this week. (The two companies may have found a way out of the drive/sell power to the grid conundrum). So it looks like the energy storage issue is on its way out.
They also point out that even if solar power is competitive that people may not invest in it. It depends on a range of factors.
However it increasingly looks like the future is solar and there is little anyone that doesn’t like that can do about it.