Solar power is all set to be the new 'king of electricity': IEA

BL Internet Desk | Updated on October 13, 2020 Published on October 13, 2020

Solar power is all set to lead a surge in renewable power supply in the next decade, the International Energy Agency has said in a report. The renewable energy sector is seen accounting for 80 per cent of growth in global electricity generation under current conditions.

The Paris-based agency has noted renewables are expected to overtake coal as the primary means of producing electricity by 2025, adding that power generation from renewables was the only major source of energy that has grown in 2020. The combined share of solar photovoltaic and wind in global generation will rise to almost 30 per cent in 2030 from 8 per cent in 2019, it said.

The reason for this is simple -- maturing technology and support mechanisms have has made solar PV cheaper than new coal- or gas-fired power plants in most countries.

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Published on October 13, 2020