Solar PV by 2030: A Possible Six-Fold Increase and Subsidy-Free Future

The Future of Solar PVThe International Renewable Energy Association (IRENA) projects a six-fold increase in global solar PV capacity by 2030. Meanwhile, the local industry is looking at a future that focuses more on sustainability rather than subsidy.

If you’re considering installing a solar PV system in your residential or commercial property, here is an international and national projection of the future of solar energy.

The Global Projection for Solar PV

Besides the forecast of the six-fold increase of global solar PV capacity by 2030, IRENA also predicts that solar PV will be accountable for at most 7% of worldwide power generation by then. The organisation came to this conclusion by studying the effects of low-cost equipment combined with easy installation and technological advancements.

The association released a recent report entitled Rethinking Energy 2017: Accelerating the global energy transformation. The report acknowledged renewable energy’s vast global potential and how it correlates with both current and anticipated world energy demand. Furthermore, it shared the global solar PV capacity increase from 39GW in 2010 to 219GW in 2015, which is indicative of the continued rise of the sustainable energy trend.

The Future of the Local Solar PV Industry

The global projection for solar PV is bright, and the local industry is feeling its effects. The UK has over 870,000 solar-powered buildings. In the past years, solar PV has been a matter of revenue rather than of sustainable energy.

With the scrapping of the feed-in tariff and the closing of the Renewable Obligation scheme, however, the industry will see a shift in reasons for installation from financial decisions to energy resolutions. As such, solar powered systems now look to a subsidy-free future that focuses on maximising on-site energy rather than increasing subsidy income.

An international association and the local industry are both positive about the future of solar PV and sustainable energy. A six-fold increase and a subsidy-free future are quite the feats, after all, so why not install a system on your property as well?