By 2023, the World Will Have 1 Trillion Watts of Installed Solar PV Capacity [View all]

[jpak]

https://www.greentechmedia.com/articles/read/by-2023-the-world-will-have-one-trillion-watts-of-installed-solar-pv-capaci#gs.IktSzqc

It's time for our regular check-in on where solar PV installations are headed. Here's the quick answer: Prices are still going down and capacity is going up around the world. Pretty much the same path we've been on.

But that path for solar has widened.

In fact, within the next five years, the world will likely have over 1 terawatt of solar capacity installed, according to the latest global data from Wood Mackenzie Power & Renewables. That's a trillion watts. That's enough to serve more than one-third of America's electricity consumption.

Our last major capacity projection was one year ago, when the GTM Research team forecasted 871 gigawatts by 2022. The latest projections show higher-than-expected growth for every year after 2018. For example, WoodMac projections for 2020 are 26 gigawatts higher than last year's forecast

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