Greetings, Solar Enthusiasts!
A bright new era for solar is on the horizon, and I couldn’t be more excited about the findings recently released by the independent clean-energy focused think tank, Ember. As a solar expert and blogger, I’m thrilled to bring you the latest updates in the solar industry!
According to Ember’s report, solar power is taking the lead in the global energy revolution. We saw solar generation growth increase by 23% globally, a clear indicator of the dynamic progress we’re seeing in the sector. The solar industry is proving that it’s not just a sustainable choice, but also a fast-growing field with limitless possibilities.
As solar enthusiasts, many of us will be thrilled to know that solar was the fastest-growing source of electricity generation for the 19th year running, overtaking wind to become the largest source of new electricity for the second year in a row. Moreover, solar reached a 5.5% share of the global electricity mix, producing 1,631 TWh, a jump from 4.6% in 2022.
A significant portion of this considerable growth can be attributed to major economies. China contributed mightily, accounting for over half (51%) of 2023’s solar growth. Other major contributors included the EU (12%) and the US (11%). Together, China, the EU, US, and Brazil accounted for a staggering 81% solar growth last year.
Mulling over a solar array for home? The escalating solar growth shown in the report should become your source of inspiration. Remember, solar panels for your home not only mean greener living, but they are also an excellent way to significantly reduce your utility bills and become more self-sustainable.
Wright’s law of technology learning curves is also playing a significant role in the widespread adoption of solar, where the technology becomes cheaper and more efficient as it is deployed more. This mirrors my experience in consulting with various solar companies and recommending the best solar company for individual homeowners. Remember, there are numerous solar companies out there, and it’s always crucial to select the one that best meets your individual needs.
Interestingly, 2023 witnessed a surge in demand for electricity, growing by 637 TWh globally. This increase equates to adding the entire electricity demand of Canada to the total, illustrating the importance of sustainable, renewable energy sources like solar in meeting global requirements.
Despite the boom in solar and wind power, their growth slightly fell below expectations due to lower-than-expected wind growth. However, they still fulfilled about 82% of the new global electricity demand. An amazing feat, highlighting these renewables as the powerhouses of newly added clean electricity!
Unfortunately, though, we haven’t entirely escaped the clutches of fossil fuel generation. Last year saw coal emissions increase by 1%, reaching 14,153 million tons of CO2 emitted by electricity generation. It’s clear, the work to move towards total renewable energy is far from over. Yet, as the clean electricity growth keeps surging, there’s hope for 2024 to exceed electricity demand and lead to a potential fall in emissions.
Indeed, the future appears to be brighter and cleaner with the remarkable progress made in the solar sector. Bumps on the road and challenges are a given, but our journey towards a sustainable, low-carbon future continues uninhibited. Let’s strive for a solar-powered world, and don’t forget, making the switch has never been easier!
Stay tuned to this blog for more exciting updates in the world of solar.
Shine on!
Original Articlehttps://pv-magazine-usa.com/2024/05/08/was-2023-the-peak-for-global-electricity-sector-emissions/
