Power generation from renewable sources is set to jump 50 percent over the next five years, due to the increase in the number of solar panels on buildings, reported International Energy Agency (IEA).
IEA forecasts an extra 1,200 gigawatts of renewable energy will be added globally by 2024, but expansion remains well below what’s needed to meet global sustainable energy targets. And it predicts cost reductions and concerted government efforts will drive the increase in solar photovoltaic (PV) systems, which will account for 60 percent of additional renewable capacity.
Three-quarters of new distributed PV is to come from installations on industrial buildings.
“Distributed PV’s potential is breathtaking, but its development needs to be well managed to balance the different interests of PV system owners, other consumers and energy and distribution companies,” said Faith Biro, IEA executive director. “The IEA is ready to advise governments on what is need