Solar energy is derived from the Sun. In two Monday reports, the International Energy Agency (IEA), stated that solar energy will become the predominant source of electricity by 2050,. These two reports by the IEA show how solar photovoltaic systems (PV), are expected to produce 16% global electricity production by mid-century. Additional 11% will be generated by solar thermal electricity from concentrating sun power (CSP). Combining the two technologies could reduce 6 billion tonnes CO2 emissions per year by 2050,, which would be more than any current US emissions or almost all global direct carbon dioxide emissions. Maria van der Hoeven is the Executive Director at the IEA. She stated that the rapid price drop in photovoltaic systems and modules in recent years opened up new opportunities for solar energy to be a significant source of electricity over the next few decades. Both technologies require capital investment. Almost all expenses must be made upfront. It is therefore essential to reduce the capital cost to achieve the vision set forth in these roadmaps. Maria van der Hoeven believes policymakers must do more to promote solar power deployment. Van der Hoeven stressed that these reports are not forecasts. These reports are targeted technology improvements with recommendations for policies to reach certain goals by 2050. These two reports share a common message. They both emphasize that policymakers must provide consistent and credible signals to instill confidence and reduce deployment risk. Ms. Van der Hoeven said: “By contrast where there are a record policy incoherence or confusing signals, consumers pay more for energy and investors end up paying less for their investments, while some projects that are required simply won’t go ahead.” PV has grown faster than STE until 2030 PV deployment was much more rapid than STE. The end-of-year saw a PV deployment capacity of 137GW. This equates to 100MW per day. This rapid growth is due to significant cost savings. According to the reports, the majority of solar energy growth will occur from PV until 2030,. After that, STE deployments will increase. China is expected to lead the expansion of PV installations, closely followed by the United States. These reports include Technology Roadmap for Solar Photovoltaic Energy. Technology Roadmap: Solar Thermal Electricity. Andrew M. Cuomo (the Governor of New York State) announced last week that he had awarded solar panels worth $94 millions.
By 2050, solar power will be the dominant source of electricity
