The latest report of DNV predicts solar capacity to quadruple by 2030

The report states that global solar power capacity will be doubled by 2025 and quadrupled to 3,000 GW by 2030…

DNV said in its latest technology report that global installed solar capacity would double by 2025 and quadruple by 2030 rising to 3000 GW of installations globally.

On the other hand, the report pointed out that solar power generation is expected to grow to 22,000 TWh in 2050 from 190 TWh in 2019 and will make up for the largest share of new renewable capacity in 2050.

It was pointed out in the report that through upgrading existing lines and new manufacturing capabilities, the solar industry has developed more efficient passivated emitter rear contact (PERC) technology. This has helped in enabling the development of bi-facial cell and module technologies that could generate power from both sides of a panel.

Furthermore, it stated that new half-cell modules and new multi-busbar silicon modules that have been developed by the module manufacturers have helped result in lower module costs and increased efficiency while reducing metallization costs.

Researchers predicted that solar module manufacturers would optimize designs and reduce production costs for the foreseeable future. 

Additionally, it pointed out that new large-format cells and modules are expected to lower manufacturing and system installation costs as well as significantly increase their efficiency.

Furthermore, inverters, trackers, and rack solutions for solar systems continue to boost energy yields and reduce costs.

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