The Future of
Solar Power
The Future of Solar Power
The future of solar is bright. The global growth forecast envisages a 20% increase in solar installations in 2023, which is expected to see solar power capacity rise by over 58 gigawatts. The highest adoption rates will be seen in Asian countries, including China, Japan, and Thailand, while the Latin American, African, and Middle Eastern regions are also expected to greatly increase their application of solar power.
Meanwhile, in the European Union, solar capacity is set to surpass 150 gigawatts by 2025, almost double the initial target of 84 gigawatts set by the European Photovoltaic Industry Association. And by 2030, this is expected to rise to as much as 500 gigawatts, according to the EPIA, enabling the bloc to meet up to 15% of demand for electricity across the European Union with solar power.
In their comprehensive analysis of future trends, the International Energy Agency foresees the world’s total electrical capacity derived from solar installations rising to over 5.5 terawatts by mid-century, supported by $225 billion in investments.
With our innovations continually reducing costs, driving value, and making solar solutions ever more commercially viable, Access Energy Technology Limited aims to be at the center of this incredible growth of solar power, expanding our operations and improving our technology to meet increasing demand.