Original article written by: WALL-Y
In 2022, solar energy overtook wind energy to take the top spot in the world for newly produced electricity, both in terms of energy and capacity. It made up more than 80 percent of the additional capacity brought to the world along with wind energy. As per BloombergNEF, it is anticipated that 392 gigawatts of solar power will be installed worldwide by 2023.
The average annual growth rate of solar capacity was 18% between 2018 and 2022. According to IEA-PVPS & BloombergNEF, a spike beyond 50% is anticipated in 2023, which might be the largest yearly increase in a decade.
This increase indicates that, by 2023, solar energy is predicted to account for almost 8% of the world's electricity consumption, up from its current 6.2% share. These numbers fluctuate, though, because it's difficult to predict with precision how much solar power will make up the electricity mix. Reliable figures are harder to come by for residential and commercial premises, where a large amount of the world's solar generation occurs. These factors, together with annual variations in solar radiation, are the causes of this variability.