At InterSolar Munich last week, LONGi Solar, the global leader in solar panel manufacturing, projected that global solar deployment will reach
1 TW per year by 2030.https://www.pv-magazine-australia.com/2022/05/18/global-annual-solar-deployment-to-hit-1-tw-by-2030/
That's accumalative - with around 6-8 hours of generation - that's an additional 8TWh of generation capacity on the grid each year.
Several industry analyst groups have reported that global solar deployment in 2021 totals 150 MW of capacity versus BloombergNEF’s 183 GW.
Starting with the lowest estimate, and assuming that installed capacity continues to double every three years, the capacity deployed in the near future will be immense:
2021 – 150 GW
2024 – 300 GW
2027 – 600 GW
2030 – 1.2 TW
This is not a shrinking market. It's mature technology, mature markets, rapid cost de-escalation & it all needs long duration energy storage in order to provide 24/7 electricity on demand.
That is solar PV alone. Not including solar thermal, wind, hydro, biomass, geothermal etc.
