The International Energy Agency has published the market report IEA Renewables, in which it analyzes the potential for development of distributed photovoltaic energy.

According to the report, the total global installed capacity of renewable energy sources will increase by 50% between 2019 and 2024. An increase of 1,200 gigawatts – which corresponds to the current total installed electrical capacity of the United States – will result from falling investment costs and actions taken by individual governments supporting RES development. The report predicts that solar installations will account for 60% of power increase. The share of renewable energy sources in global energy production is expected to increase from 26% to 30% in 2024.

The International Energy Agency forecasts that within five years, by 2024, the costs of producing energy from small PV systems will drop by an average of 15-35%, by about 20-40 USD / MWh, and in the case of Japan even by 60-70 USD / MWh.

Experts from the International Energy Agency assume that the growing competitiveness of photovoltaics is to be accompanied in the next five years by a significant increase in the globally installed potential in the field of distributed PV. In the years 2012-2018, 36 GW was to be created in this segment worldwide, and in the years 2019-2024 it is expected to raise from 85 GW to 114 GW.

More information

IEA report