How has solar energy changed the world in 2022?

In 2022, the world added more new solar capacity than all other energy sources for electricity combined. Global energy generation from solar photovoltaic (PV) panels, which convert sunlight into electricity, rose by 270 terawatt hours (TWh), marking a 26% rise on the previous year.

How much solar power will the electric power sector add in 2025?

We expect U.S. utilities and independent power producers will add 26 gigawatts (GW) of solar capacity to the U.S. electric power sector in 2025 and 22 GW in 2026. Last year, the electric power sector added a record 37 GW of solar power capacity to the electric power sector, almost double 2023 solar capacity additions.

Will defunct solar panels create a 78 million tons of waste?

The International Renewable Energy Agency warns defunct solar panels could create up to 78 million tons of waste by 2050 if not recycled. Solar power is already displaying its significant potential to play a critical role in the energy transition.

What is a quarterly solar industry update?

Each quarter, the National Renewable Energy Laboratory conducts the Quarterly Solar Industry Update, a presentation of technical trends within the solar industry.

How efficient are solar panels?

Today’s PVs are up to 24.5% efficient, with recent advances in technology indicating that figure could rise above 30% later this decade. Another significant factor is the falling cost of solar, which has now become cheaper to produce than any other energy. MIT reported in 2018 that PV module costs had dropped by 99% over the previous four decades.

How many solar modules have been added in 2024?

Since the IRA’s passage, more than 95 GW of manufacturing capacity have been added across the solar supply chain (from facilities announced pre- and post-IRA), including nearly 42 GW of new module capacity. U.S. c-Si manufacturers added significant capacity in the first half of 2024.