Solar energy was the fastest growing source of energy in 2016, as noted in a brand-new report from the International Energy Agency (IEA). Solar PV capability worldwide grew by 50% in 2016.
The IEA also suggested that the renewables sector would continue to see strong advancement. The report kept in mind that two-thirds of new power sources in 2016 were renewable.
The International Energy Agency is an intergovernmental organisation developed to ensure environmentally friendly and reliable energy for its member countries. It produces data and files about the many different ways in which energy is being used and produced around the world.
Where is this development happening?
A large amount of this development originates from China and India, although the United States is also a huge part of the development in the eco-friendly energy sector. These countries make up two-thirds of the eco-friendly resource advancement throughout the world.
For the UK, the figures are less impressive. The report expects a slower development in the solar sector. However, the market is still in a remarkably strong position and expected to grow substantially.
The genuine issue, nonetheless, is exactly what is this development going to mean for customers? We have assessed the report, and produce some responses.
What does this mean for me?
The best takeaway for clients from this is that it’s still an ideal time to acquire solar! The marketplace is succeeding and continued improvement will just take it from strength to strength.
The report also found that renewables are getting considerably less costly. Paolo Frankl, the head of the environmentally friendly energy department at the IEA, specified that ‘renewables might well end up being less expensive than fossil fuel options’.
In addition, the continuing improvements in house battery innovation are making solar PV a lot more enticing possibility. These new batteries include smart innovation, which indicates they can selecting about when to store energy when to sell it back to the grid based upon your house’s energy use.
All these elements mean that there’s never ever been a better time to have actually solar PV established on your domestic or company house! To find out more about solar PV, click here. Or, click here to read the full IEA report.