Is the solar power the main path to energy transition?

Global environmental concerns the escalating demand for energy, coupled with steady progress in renewable energy technologies, are opening up new opportunities for utilization of renewable energy resources. Among all renewable technologies, solar power installations have been dominating the renewables industry for many years, in fact, is the most abundant and clean of all the renewable energy resources till date. The power from sun intercepted by the earth is about 1.8 × 1011 MW, which is many times larger than the present rate of all the energy consumption. Photovoltaic technology is one of the finest ways to harness the solar power.

According to IRENA’S Global Energy Transformation paper, as of the end of 2018, the global capacity of installed and grid-connected solar PV power reached 480 GW, representing 20% year-on-year growth compared to 2017 (386 GW) and a compound annual growth rate (CAGR) of nearly 43% since.

Considering ample resource availability, significant market potential and cost competitiveness, solar PV is expected to continue driving overall renewables growth in several regions over the next decade. From today’s levels, IRENA’s REmap analysis shows that solar PV power installations could grow almost six-fold over the next ten years, reaching a cumulative capacity of 2.840 GW globally by 2030 and rising to 8.519 GW by 2050. This implies total installed capacity in 2050 almost eighteen times higher than in 2018. At a global level, around 60% of total solar PV capacity in 2050 would be utility scale, with the remaining 40% distributed (rooftop). While utility-scale projects still predominate in 2050, the REmap analysis expects distributed solar PV installations to grow more rapidly, driven by policies and supportive measures, as well as consumer engagement in the clean energy transformation.

Power Electronics is contributing to the search for alternative approaches to the main threats faced by the planet, including the environmental impact of fossil and low-quality fuels and the lack of water in many parts of the world to reach the 60% of total solar PV capacity in 2050.

We have managed to develop solar inverters designed for utility scale solar applications, offering a 24-7h service for more than 30 years’ operating in aggressive environments and under extreme weather conditions.

Thanks to our Freesun-branded range of solar inverters, Power Electronics has become the leading supplier of large-scale plant installations in the United States, Australia, United Kingdom, Spain and LATAM, and continues to expand worldwide. We are world leaders in this type of technology and have more than 50 GW of installed power capacity worldwide.

Source: https://cutt.ly/sWqN8L7