In 2019, solar power grew faster than wind power. At the end of last year, the total installed capacity of solar power plants exceeded 650 GW, leaving wind generation behind with 645 GW.
According to BloombergNEF experts, the gap between solar and wind energy will grow. According to their forecasts, from 130 to 170 GW of solar capacities will be built annually against 50-60 GW of wind generation. However, while wind energy is winning – it generates 2 times more electricity due to a higher installed capacity utilization factor.
Also, experts note that wind and solar energy accounted for more than 60% of all generating capacities built in 2019 in the world. It is noted that solar energy in terms of installed capacity (650 GW) is in 4th place after coal (2100 GW), gas generation (1810 GW) and hydroelectric power plants (1160 GW). However, by 2030 it may take the first or second place.
In 2019, photovoltaics provided almost 3% of the world’s electricity, while 15 years ago it accounted for less than one tenth of a percent. In total, the installed capacity of green energy (including hydropower) at the end of 2019 amounted to about 2.5 TW.