The International Energy Agency has published the World Energy Outlook 2020, which establishes the intrinsic value of photovoltaic energy.
Reduced production costs and technological advancements are driving the solar platform toward ever wider adoption. This is true at the utility level, in the industrial, commercial and residential sectors.
Installing a system today is significantly cheaper than in the recent past. For this reason, too, the future of solar is bright according to IEA.
Overall, renewable energy consumption could triple within 20 years. That said, the footprint of fossil fuel-based generation plants still remains strong. Their adoption will continue robustly for many more years, with even a 30% growth forecast through 2040.
While photovoltaics, wind and other sources are beneficial, global energy supply through these supply mechanisms alone is unthinkable today. This is one of the main reasons that will favor the continued use of fossil fuels. The global demand for energy is clearly growing and, even if by 2040 renewables will be able to cover 80% of the expected growth, it will not yet be possible to completely abandon conventional plants.
However, a green future is possible and not too far away.
In order to promote a rapid realization, it will be important to support the energy transition through virtuous behavior. This is valid for the individual citizen, but also for large companies. Technology will help us, mitigating the consumption of the devices we use every day, thanks to increasingly refined production processes and low-power components.