Next year, solar photovoltaic capacity will leapfrog that of hydropower, according to the International Energy Agency (IEA) who have estimated that ‘In three years, it will overtake gas-fired generation. And, in four years, it will push past coal — to boast the largest share of generation capacity of any power source.’
The Financial Times reported on these findings quoting IEA senior analyst Heymi Bahar ‘Solar accounts for almost 60 per cent of every power installation that will be built in the coming five years’.
The shift towards solar is driven by cheaper installation costs amongst energy security concerns, with corporates as well as individuals being able to take advantage of its scalability.
