Solar is expected to continue to be a fast-growing
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Posted On: 09/01/2024 11:43:09 AM
Solar is expected to continue to be a fast-growing energy source in the United States and globally through 2024 and beyond:
U.S. growth
The U.S. Department of Energy estimates that solar will account for 58% of new electricity generation in 2024, which is nearly double the increase from the previous year.
The U.S. Energy Information Administration (EIA) forecasts that solar will provide 41% more electricity in 2024 than in 2023.
Global outlook
The International Energy Agency (IEA) predicts that solar generation will surpass natural gas by 2026 and coal by 2027.
Technology innovations
Solar panel technology is expected to continue to evolve, with the integration of artificial intelligence (AI) to improve system efficiency and performance. Solar tracking systems can also increase energy output by 10% to 60% compared to fixed systems.
Building materials
Solar panels may be integrated into standard building materials, such as bricks and transparent solar panels for windows.
Distributed energy resources
The growth of distributed energy resources (DERs), such as rooftop solar and battery storage, will continue as they become more affordable and efficient.
COP28 agreement
World leaders at COP28 agreed to triple renewable energy capacity globally by 2030, which will require unprecedented growth in solar and wind.
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U.S. growth
The U.S. Department of Energy estimates that solar will account for 58% of new electricity generation in 2024, which is nearly double the increase from the previous year.
The U.S. Energy Information Administration (EIA) forecasts that solar will provide 41% more electricity in 2024 than in 2023.
Global outlook
The International Energy Agency (IEA) predicts that solar generation will surpass natural gas by 2026 and coal by 2027.
Technology innovations
Solar panel technology is expected to continue to evolve, with the integration of artificial intelligence (AI) to improve system efficiency and performance. Solar tracking systems can also increase energy output by 10% to 60% compared to fixed systems.
Building materials
Solar panels may be integrated into standard building materials, such as bricks and transparent solar panels for windows.
Distributed energy resources
The growth of distributed energy resources (DERs), such as rooftop solar and battery storage, will continue as they become more affordable and efficient.
COP28 agreement
World leaders at COP28 agreed to triple renewable energy capacity globally by 2030, which will require unprecedented growth in solar and wind.
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icymi
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