Solar power was the fastest growing source of energy in 2016, as reported in a brand-new report from the International Energy Agency (IEA). Solar PV capability worldwide grew by 50% in 2016.
The IEA likewise anticipated that the renewables sector would continue to see strong development. The report noted that two-thirds of brand-new sources of power in 2016 were renewable.
The International Energy Agency is an intergovernmental organisation established to guarantee clean and relied on energy for its member nations. It produces data and files about the numerous ways that energy is being used and produced worldwide.
Where is this development happening?
A huge piece of this development is originating from China and India, although the United States is also a huge part of the development in the environment-friendly energy sector. These nations make up two-thirds of the eco-friendly resource development throughout the world.
For the UK, the figures are less remarkable. The report expects a slower development in the solar sector. However, the marketplace is still in an exceptionally strong position and anticipated to grow considerably.
The real issue, nevertheless, is precisely what is this development going to indicate for consumers? We have evaluated the report and produced some responses.
Precisely what does this mean for me?
The best takeaway for clients from this is that it’s still a great time to purchase solar! The market is succeeding and continued advancement will simply take it from strength to strength.
The report also discovered that renewables are getting substantially less costly. Paolo Frankl, the head of the eco-friendly energy department at the IEA, stated that ‘renewables may well end up being less costly than fossil fuel alternatives’.
In addition, the continuing enhancements in home battery innovation are making solar PV a lot more enticing possibility. These new batteries include clever innovation, which indicates they can choose about when to store energy and when to sell it back to the grid based upon your house’s energy use.
All these factors suggest there’s never ever been a much better time to have solar PV established on your domestic or company property! To find out more about solar PV, click here. Or, click here to see the full report from the IEA.