For IEA, solar generation is "queen of electricity"

In a report on global energy prospects released last Tuesday (13), the International Energy Agency (IEA) said that solar energy should lead a wave in electricity generation by renewable sources over the next decade, as clean sources will account for 80% of growth in global electricity production in the period.

The agency's studies show that renewables are expected to exceed coal by 2025 as the main means of electricity production, and the combined share of solar photovoltaic and wind power in global generation will advance to nearly 30% by 2030, up from 8% in 2019, with an average expansion in solar capacity of 12% per year.

Also according to the IEA, maturing technology and support mechanisms have reduced costs for financing large solar projects, which helps to reduce overall production costs. Today, solar power is already cheaper than building new coal or gas plants in most countries. In addition, renewable generation is the only major source of energy that has maintained an increasing pace in 2020.

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