Solar PV: powering a sustainable future
In just 90 minutes, enough sunlight strikes the earth to provide the entire planet’s energy needs for one year. And yet, with this resource potential to power solar energy so abundant, it still represents only a fraction of the world’s current energy mix.
Thankfully, a new era is dawning. With sustainable development and decarbonization high on government agendas across the globe – as they strive to achieve climate goals agreed under the Paris Agreement – the energy mix is undergoing a much-needed transition.
A recent report from the International Energy Agency (IEA) found that solar, wind and hydropower projects are now rolling out at their fastest rate in four years. Further predictions from the IEA indicate that global supplies of renewable electricity could expand by a further 50% over the next five years, powered by a resurgence in solar energy, in particular.
IEA’s executive director, Fatih Birol states:
“This is a pivotal time for renewable energy. Technologies such as solar photovoltaics (PV) and wind are at the heart of transformations taking place across the global energy system. Their increasing deployment is crucial for efforts to tackle greenhouse gas emissions, reduce air pollution, and expand energy access.”
According to the International Renewable Energy Agency (IRENA), among all low-carbon technology options, accelerated deployment of solar PV energy could lead to a reduction of 4.9 gigatonnes of carbon dioxide by 2050. And, with costs related to solar PV predicted to continue to decline by a further 15% to 35% by 2024, it’s clear that Solar PV technology has potential that commands global attention.
But, what is solar photovoltaic technology, and how does it work? In this short video, we take an in-depth look at the science behind the technology!
Solar PV is technology fast gaining popularity across the globe, with the World’s total installed PV capacity reaching 480.3 GW at the end of 2018 and rising ever since.
Through Fotowatio Renewable Ventures (FRV), a leading global developer of renewable utility-scale projects and part of Abdul Latif Jameel Energy, we are continuing to bring sustainable solar PV energy solutions to clients and communities across five continents.
FRV has built a pipeline of 7,000 MWdc with projects in markets including Europe the Middle East, Australia, Africa and Latin America. This is the equivalent of generating enough electricity to supply nearly one million homes every year, and avoiding over removing over 100 million tonnes of CO2 emissions annually.
As the world continues its transition towards a sustainably powered future, we look forward to being part of it – anywhere the sun shines.