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We are at the early stages of a global boom in solar power:
Global solar growth is beating industry projections
Global solar installations are set to beat most industry forecasts, with 593 gigawatts (GW) expected to be added by the end of 2024, according to a new report by energy think tank Ember.
This is a 29% increase compared to the previous year, maintaining strong growth following an estimated 87% surge in 2023.
“Yet again, solar power is growing faster than people expected, as it establishes itself as the cheapest source of electricity globally,” said Euan Graham, electricity data analyst at Ember.
Ember’s analysis also finds that solar capacity additions in 2024 will likely surpass the entire global increase – 540 GW – in coal power capacity since 2010.
Who’s leading the solar growth
China, the US, India, Germany, and Brazil will account for 75% of global solar additions in 2024, according to Ember’s estimates.
China continues to dominate in global solar capacity installations. In the first seven months of the year, it was up by 28% year-over-year. At this pace, China is expected to install 334 GW of solar capacity, making up 56% of global capacity additions for 2024.
https://electrek.co/2024/09/19/global-solar-growth-is-on-track-for-another-record-breaking-year/
