2022: The Year of Terawatt Solar Global installed solar capacity expected to hit Terawatt mark in early 2022

Bright news is on the horizon, with solar set to reach another key milestone this year. In a new dawn for the sector, global installed solar generation capacity is expected to reach 1.1 TW in 2022, with the TW frontier being crossed for the first time in spring 2022.

Rising from around 100 GW of solar capacity in 2012, the global solar market has grown exponentially and will surpass 1000 GW (1 TW) in 2022, according to even SolarPower Europe’s most cautious scenario. This achievement follows an enormous 90% decrease in solar costs between 2009 and 2021* making solar a global phenomenon and national policies to deploy this clean energy technology.

Walburga Hemetsberger, CEO of SolarPower Europe commented: “1 Terawatt solar is cause for celebration, but we can and must speed up solar deployment. With the right steps, the world could even reach 2 TW installed solar generation capacity in less than 4 years. Europe will be within reach of its own solar terawatt level with a minimum 45% renewable energy target for 2030, putting the continent on the most cost-effective path to meet necessary climate commitments.”

 

The countdown is on for the world to reach Terawatt solar capacity in coming months.   Follow and engage the Solar TW milestone on social media using #SolarTWYear

 

*Lazard (2021) Levelised Cost of Energy Comparison – Historical Renewable Energy LCOE declines

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