A study has predicted that solar energy will be the world’s biggest power source by 2035.
One of Europe’s leading renewable energy companies, Statkraft, has just released its annual analysis of world energy patterns. The report found that solar PV is the fastest-growing energy source in the world, due to falling prices and rising demand.
The falling cost of solar energy
We know that solar PV is already far more affordable than it was a decade ago, and the lifetime cost of installing a system is predicted to fall by half over the next 30 years. The report predicted that solar and wind will produce up to 70% of our power by 2050. In fact, it looks as though renewable energy will make up more than 80% of the world’s power sector.
As energy rates look increasingly uncertain, solar PV and battery storage enables homeowners to take control of their energy consumption and costs. Battery storage systems help solar owners to optimise their power when it suits them, harnessing excess energy until they need it. More and more people are choosing solar, taking the first step towards a self-powered home or business.
The rise of renewable energy
The company’s analysis highlighted that the cost of renewable energy such as solar is falling far more quickly than was expected. In most countries, it’s already sensible to opt for renewable energy for the generation of new power. In regions where there’s plenty of wind and sun, solar PV will be more cost-effective than using existing gas or coal power.
Energy produced by solar systems rose by 25% in 2018. By 2050, the findings predict that the energy industry will be almost completely free from the use of coal and oil. The report also mentioned that falling costs of renewable energy will make it more likely that sectors such as transport are powered by solar in the future. Better still, the report predicts that nearly all new vehicles will be electric or hydrogen by 2050.
For the planet
We’re passionate about helping homes and businesses to create their own solar energy and optimise it with battery storage systems.
We’re hearing from more and more customers keen to do their bit for the planet, reducing their reliance on fossil fuels and controlling rising energy costs. As solar becomes a more affordable solution for our day to day energy needs, it’s a great option for anyone keen to do their bit and generate clean energy.
Click here to find out more about solar PV for your home.