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October 4, 2017 04:00 pm

Dawn of Solar Age Declared as PV Beats All Other Forms of Power

Solar power blossomed faster than for any other fuel for the first time in 2016, the International Energy Agency said in a report suggesting the technology will dominate renewables in the years ahead. From a report: The institution established after the first major oil crisis in 1973 said 165 gigawatts of renewables were completed last year, which was two-thirds of the net expansion in electricity supply. Solar grew by 50 percent, with almost half new plants built in China. "What we are witnessing is the birth of a new era in solar PV," Fatih Birol, executive director of the IEA, said in a statement accompanying the report published on Wednesday in Paris. "We expect that solar PV capacity growth will be higher than any other renewable technology through 2022." This marks the sixth consecutive year that clean energy has set records for installations. Mass manufacturing and a switch by governments away from fixed payments for renewables forced down the cost of wind and solar technology. The IEA expects about 1,000 gigawatts of renewables will be installed in the next five years, a milestone that coal only accomplished after 80 years. That quantity of electricity surpasses what's consumed in China, India and Germany combined.

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