According to a recent report on energy usage, it was determined that during the past 10 years, solar energy has produced the most energy capacity worldwide. Commissioned by the United Nations Environment’s economy division, the “Global Trends in Renewable Energy Investment 2019” points out that solar energy has increased capacity from 414 gigawatts to 1,650 gigawatts since 2010.
In 2018, 12.9% of the world’s electricity was accounted for by renewable energy. This helped to decrease the level of carbon dioxide emissions by two billion tons. The most conclusive deduction from this report, however, is that solar energy jumped from a global capacity in 2009 of 25 gigawatts to 663 gigawatts. This is the largest growth spurt of any energy source in the past decade. This drastic increase proves that solar energy can be a feasible alternative to other major power sources.
Solar energy is far more cost-effective than other sources!
In California, the first solar power station went online and in 1982. It was predicted that in as little as 10 years of solar energy would become a notable energy source.
The aforementioned study highlights a decrease of 81% in the levelized cost of solar energy during the last 10 years. According to a report in March 2019, solar and wind operated power costs less than the cost to maintain coal plants. In the same year, it was noted by 2030, Australia could reach 50% renewable energy.
The steady decline in the price of solar energy proves that it is the best choice for energy power in the majority of the world. With these countries striving to build a stronger economy and reduce climate change, it only makes sense to switch to solar energy!