The Growth of Global Solar Energy

Solar energy continues to be one of the two dominate investments in new renewable capacity. Despite a reduction in investment capital solar power continued its meteoric growth in 2012.

Here are some interesting stats on the growth of solar energy from the latest World Watch Institute press release for the most recent Vital Signs Online Trend Report which was published at the end of July, 2013:

• Solar power consumption increased by 58 percent, to 93 terrawatt-hours (TWh)
• Global solar energy investment energy in 2012 was $140.4 billion, an 11 percent decline from 2011
• Despite less investment revenue the lower costs in solar enabled the total installed capacities to grow
• Solar photovoltaic (PV) installed capacity grew by 41 percent in 2012, reaching 100 gigawatts (GW)
• Between 2007 and 2013, the installed PV capacity of solar energy grew by 900 percent from 10 GW in 2007
• Top 4 countries in installed PV capacity today are Germany (32.4 GW), Italy (16.4 GW), the United States (7.2 GW), and China (7.0 GW)
• Europe dominates the world with 76 percent of global solar power use in 2012 
• Germany alone accounted for 30 percent of the global solar power use in 2012
• Spain added the most concentrating solar thermal power capacity (950 MW) in 2012
• The installed capacity for concentrating solar thermal power (CSP) reached 2.55 GW, with 970 megawatts (MW) alone added in 2012
• The Asia-Pacific region now accounts for 17 percent of global solar use, leaving it behind only Europe
• China's 12th Five-Year Plan aims to reach 21 GW installed solar capacity by 2015 and 50 GW by 2020

© 2013, Richard Matthews. All rights reserved.

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