Renewable energy beating nuclear, in 2014 and beyond
Overall, utility-scale solar is expected to drive growth, due to its increased cost competitiveness. In the rooftop sector, self-consumption is said to be becoming the “backbone” of distributed PV development………
Read the full SolarPower Europe report.
Renewables outpace nuclear in 2014 European power generation, PV Magazine 09. JUNE 2015 BY: BECKY BEETZ Last year was said to be a benchmark for renewable energy, with renewables producing more power in Europe than nuclear for the first time. In yet another glittering solar industry report, SolarPower Europe further calculates cumulative solar capacity could reach 540 GW, globally, by 2020, with a record 40 GW installed in 2014. China is set to “frame global growth.
SolarPower Europe, formerly the European Photovoltaic Industry Association (EPIA) has released its “Global Market Outlook for Solar Power 2015-2019.” In the report, the association notes the “key” role solar has played in helping the renewable energy industry overtake nuclear power for the first time in Europe……
Price declines The “massive” price declines have help solar become a cost-competitive energy source, including a 75% drop in PV system prices in the past decade. As such, it should be viewed as a “low risk investment” by the financial community, says SolarPower Europe…….
Geographical spread Marking a significant change from just three years ago, China (10.6 GW in 2014), Japan (9.7 GW) and the U.S. (over 6.5 GW) are leading current solar industry growth, with the U.K. forging Europe’s onward path. Of the 40 GW installed in 2014, Europe accounted for just 7 GW, 2.4 of which were deployed in Britain, while Germany added just 1.9 GW and France 927 MW. Despite this, Europe still leads in terms of cumulative installed capacity, at 88 GW.
The U.K. is set to keep the European solar crown for another year – something no one would have believed just a couple of years ago. “The success of the U.K., set to be the largest European market again in 2015, reinforces the evidence that solar power is a versatile and cost-efficient energy source in any climate,” continues Schmela.
Also of note is Korea, whose solar market doubled to see a cumulative capacity of 900 MW at the end of 2014 – similar to that of Australia. South Africa, which has seen an enormous amount of activity recently, also boasts a capacity of 800 MW. Canada, Taiwan, Thailand, the Netherlands and Chile also added nearly 500 MW, respectively.
Interestingly, there is a “perfect balance” between utility-scale and distributed solar installations globally, said SolarPower Europe, at around 20 GW each in 2014. However, when you look at individual markets, like Denmark, Austria, Belgium and Switzerland, for example, they are comprised almost entirely of residential and commercial installations.
Overall, utility-scale solar is expected to drive growth, due to its increased cost competitiveness. In the rooftop sector, self-consumption is said to be becoming the “backbone” of distributed PV development………
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