{"id":16965,"date":"2019-11-13T04:23:06","date_gmt":"2019-11-13T04:23:06","guid":{"rendered":"https:\/\/www.revoscience.com\/en\/?p=16965"},"modified":"2020-06-09T12:39:59","modified_gmt":"2020-06-09T12:39:59","slug":"latin-america-and-caribbean-on-the-brink-of-massive-solar-power-growth","status":"publish","type":"post","link":"https:\/\/www.revoscience.com\/en\/latin-america-and-caribbean-on-the-brink-of-massive-solar-power-growth\/","title":{"rendered":"Latin America and Caribbean on the Brink of Massive Solar Power Growth"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.revoscience.com\/en\/wp-content\/uploads\/2019\/11\/irena-news-1024x535.jpg\" alt=\"\" class=\"wp-image-16966\" width=\"1024\" height=\"535\" title=\"\" srcset=\"https:\/\/www.revoscience.com\/en\/wp-content\/uploads\/2019\/11\/irena-news-1024x535.jpg 1024w, https:\/\/www.revoscience.com\/en\/wp-content\/uploads\/2019\/11\/irena-news-300x157.jpg 300w, https:\/\/www.revoscience.com\/en\/wp-content\/uploads\/2019\/11\/irena-news-768x401.jpg 768w, https:\/\/www.revoscience.com\/en\/wp-content\/uploads\/2019\/11\/irena-news.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Latin America and the Caribbean could grow their installed solar capacity by a factor of 40 by 2050, a new report by the International Renewable Energy Agency (IRENA) shows.<\/p>\n\n\n\n<p>Annual investmens exceeding seven billion would see the region&#8217;s solar PV capacity rise from 7 gigawatts (GW) today, to more than 280 GW by mid-century. While solar energy remains the highest in Asia, North America and Europe, market growth is set to shift to other regions in the world.<\/p>\n\n\n\n<p class=\"has-text-color has-background has-vivid-cyan-blue-color has-very-light-gray-background-color\">Statistical highlights:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Accelerating solar PV can cut energy-related CO2 emissions by 21 per cent in 2050.<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li>With over 50 per cent of installed capacity in 2050, Asia (mostly China) would continue to dominate solar PV power, followed by North America (20%) and Europe (10%). The Latin American market would grow from 7 GW in 2018 to over 280 GW.<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li>Annual solar PV investment would have to increase by 68 per cent on average globally, from USD 114 billion in 2018 to USD 192 billion in 2050.<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li>Global levelised cost of electricity (LCOE) for solar PV will continue to fall from an average of USD 85 cents per kilowatt-hour (kWh) in 2018 to between USD 5-14 cents per kWh by 2050. A recent solar and wind power auction in Colombia was awarded for an average electricity price of USD 27 cents per kWh.<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li>Due to innovations, solar PV\u00a0remains\u00a0a fast-evolving industry. Floating PV is one of the most prominent examples with global cumulative installed\u00a0capacity exceeding 1 GW in 2018.\u00a0Battery storage and electric vehicles are\u00a0key solutions to\u00a0support the grid and\u00a0manage high shares of\u00a0solar PV\u00a0as well as to\u00a0guarantee the flexibility of the power system.<\/li><\/ul>\n\n\n\n<p>By that time, solar PV would represent the second-largest power source behind wind, generating a quarter of the world\u2019s power, \u201c<a href=\"https:\/\/u7061146.ct.sendgrid.net\/wf\/click?upn=G62jSYfZdO-2F12d8lSllQB2e5gvpPb8TASP5jBozwV7JmPyuqFFHWdF8lwn5TZRa-2BOsH-2FqJKXDnwD4oWkPRyQNLRMdPa6fnxZeSmIkjjkesg-3D_m5LwI2xNVqwMxUnRykiMRuvA-2F2wDTkhOFGT7qvclv54uT-2BkLdHsH4OZx2j1m9kXaW1ZMI6mjhyfT4URQKMTSeTw4-2B3NbGkeqaNN2wwTIX3U0dVbF-2F1MJDxKyIFTnL6VK2EQz03aCfSq0lXewanRrHp0SIBukgVwXxIGYNFYgVt3YOystlKrQtbYbTqgjVGYAw9iqAGo9eu8-2BQ1W0CUxWBMiQ8KCLPhI4a7ucdyegSDiyfpX4t3H2elSiyfV1NOxBD7vB9oEk2ICH5zTQq9e3d10u9C8IyKZBSWvVyYnS0-2BAjGy9zTAuPvJjhvMe0lY8wbVBOrkRb5JaIr7zLzhan5HHHCkz03EGL8K-2FV0wXt8KI-3D\" target=\"_blank\" rel=\"noreferrer noopener\">Future of Solar Photovoltaic<\/a>\u201d launched today at \u201cSun World 2019\u201d in Lima finds. In total, global solar power capacity would rise from 480 GW in 2018 to over 8000 GW by 2050, growing by nearly 9 per cent every year.<\/p>\n\n\n\n<p>\u201cSolar PV and other renewables sources represent the most effective and ready solution for addressing growing energy demand and limiting carbon emission at the same time,\u201d said IRENA\u2019s Director-General Francesco La Camera. <\/p>\n\n\n\n<p>\u201cRenewables are practical, affordable and climate-safe. They are key to sustainable development, enabling energy access, spurring economic growth, creating employment and improving health.<\/p>\n\n\n\n<p> Particularly solar energy is set to become one of the most prominent power sources in 2050. Projected growth rates in markets like Latin America showcase that we can extend the energy transition to all countries. It\u2019s possible.\u201d<\/p>\n\n\n\n<p>If accompanied by sound policies, the transformation driven by renewables such as solar can bring substantial socioeconomic benefits, IRENA\u2019s new report finds. The global solar industry has the potential to employ over 18 million people by 2050, four times more than the 4.4 million jobs today.<\/p>\n\n\n\n<p>Over the last decade, installed capacity of off-grid solar PV has grown more than tenfold, from roughly 0.25 GW in 2008 to almost 3 GW in 2018 around the world. <\/p>\n\n\n\n<p>With its modular and flexible nature, solar PV technology can be adapted to a wide range of off-grid applications and to local conditions. Indeed, off-grid solar PV is a key technology for achieving universal electricity access, in line with the UN Sustainable Development Goals.<\/p>\n\n\n\n<p>Similarly, the deployment of rooftop solar PV systems has increased extensively, which today makes solar PV in some markets more attractive than buying electricity from the grid. The competitiveness of distributed solar power is clearly raising deployment in large markets, including Brazil, China, Germany and Mexico.<\/p>\n  <br \/>","protected":false},"excerpt":{"rendered":"<p>Latin America and the Caribbean could grow their installed solar capacity by a factor of 40 by 2050, a new report by the International Renewable Energy Agency (IRENA) shows.<\/p>\n","protected":false},"author":2,"featured_media":16966,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,28],"tags":[],"class_list":["post-16965","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-research","category-techbiz"],"featured_image_urls":{"full":["https:\/\/www.revoscience.com\/en\/wp-content\/uploads\/2019\/11\/irena-news.jpg",1200,627,false],"thumbnail":["https:\/\/www.revoscience.com\/en\/wp-content\/uploads\/2019\/11\/irena-news-200x200.jpg",200,200,true],"medium":["https:\/\/www.revoscience.com\/en\/wp-content\/uploads\/2019\/11\/irena-news-300x157.jpg",300,157,true],"medium_large":["https:\/\/www.revoscience.com\/en\/wp-content\/uploads\/2019\/11\/irena-news-768x401.jpg",750,392,true],"large":["https:\/\/www.revoscience.com\/en\/wp-content\/uploads\/2019\/11\/irena-news-1024x535.jpg",750,392,true],"1536x1536":["https:\/\/www.revoscience.com\/en\/wp-content\/uploads\/2019\/11\/irena-news.jpg",1200,627,false],"2048x2048":["https:\/\/www.revoscience.com\/en\/wp-content\/uploads\/2019\/11\/irena-news.jpg",1200,627,false],"ultp_layout_landscape_large":["https:\/\/www.revoscience.com\/en\/wp-content\/uploads\/2019\/11\/irena-news.jpg",1200,627,false],"ultp_layout_landscape":["https:\/\/www.revoscience.com\/en\/wp-content\/uploads\/2019\/11\/irena-news.jpg",870,455,false],"ultp_layout_portrait":["https:\/\/www.revoscience.com\/en\/wp-content\/uploads\/2019\/11\/irena-news.jpg",600,314,false],"ultp_layout_square":["https:\/\/www.revoscience.com\/en\/wp-content\/uploads\/2019\/11\/irena-news.jpg",600,314,false],"newspaper-x-single-post":["https:\/\/www.revoscience.com\/en\/wp-content\/uploads\/2019\/11\/irena-news-760x490.jpg",760,490,true],"newspaper-x-recent-post-big":["https:\/\/www.revoscience.com\/en\/wp-content\/uploads\/2019\/11\/irena-news-550x360.jpg",550,360,true],"newspaper-x-recent-post-list-image":["https:\/\/www.revoscience.com\/en\/wp-content\/uploads\/2019\/11\/irena-news-95x65.jpg",95,65,true],"web-stories-poster-portrait":["https:\/\/www.revoscience.com\/en\/wp-content\/uploads\/2019\/11\/irena-news.jpg",640,334,false],"web-stories-publisher-logo":["https:\/\/www.revoscience.com\/en\/wp-content\/uploads\/2019\/11\/irena-news.jpg",96,50,false],"web-stories-thumbnail":["https:\/\/www.revoscience.com\/en\/wp-content\/uploads\/2019\/11\/irena-news.jpg",150,78,false]},"author_info":{"info":["RevoScience"]},"category_info":"<a href=\"https:\/\/www.revoscience.com\/en\/category\/news\/research\/\" rel=\"category tag\">Research<\/a> <a href=\"https:\/\/www.revoscience.com\/en\/category\/techbiz\/\" rel=\"category tag\">Tech<\/a>","tag_info":"Tech","comment_count":"0","_links":{"self":[{"href":"https:\/\/www.revoscience.com\/en\/wp-json\/wp\/v2\/posts\/16965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.revoscience.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.revoscience.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.revoscience.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.revoscience.com\/en\/wp-json\/wp\/v2\/comments?post=16965"}],"version-history":[{"count":0,"href":"https:\/\/www.revoscience.com\/en\/wp-json\/wp\/v2\/posts\/16965\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.revoscience.com\/en\/wp-json\/wp\/v2\/media\/16966"}],"wp:attachment":[{"href":"https:\/\/www.revoscience.com\/en\/wp-json\/wp\/v2\/media?parent=16965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.revoscience.com\/en\/wp-json\/wp\/v2\/categories?post=16965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.revoscience.com\/en\/wp-json\/wp\/v2\/tags?post=16965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}