Going Solar: A Global Trend & Leading Players
Accelerated global solar growth - Germany ranks among the top 5 nations - Robust Solar Energy Production Globally - Germany Included in Leading Five Countries
Solar energy's upward trajectory is unmistakable, with industry experts projecting double-digit growth rates over the next few years. The world may well surpass the 600-gigawatt solar capacity threshold in 2024 - a substantial increase from the 2022 figure.
Solar Titans: Countries Leading the Charge
While Germany, with an installed capacity of over 100 gigawatts, holds a respectable fourth position, trailing giants like China, the USA, and India, expect an impressive 14% growth in 2024. The slight drag in 2023 could be attributed to reduced home solar installations, but demand for balcony solar panels is anticipated to top 800,000 by 2024.
Spearheading the solar revolution is none other than China, with a staggering 329 gigawatts added in 2024 alone - nearly twice the aggregate addition of its top nine rivals, including the USA, India, Brazil, Germany, Spain, Turkey, Italy, Japan, and France. Consequently, the EU as a whole follows closely in China's footsteps.
Storing the Sun's Power
As renewable energy proliferates, ensuring storage capacity becomes paramount to prevent the squandering of valuable green energy. A promising development is the potential application of electric vehicles as grid-scale energy storage via bi-directional charging. Dubbed "V2G," or "vehicle-to-grid," technology is now within reach, as evidenced by the first model hitting the market. The financial benefits are compelling, with zero operating costs for the electric vehicle owners, who, in turn, could rejuvenate the stagnant European electric vehicle market.
Source: Base Article
Unearthed Data Points
Curious to know who the other leading solar players are? Here's the lowdown:
- Japan, while not as explicitly highlighted in the base article, has made notable contributions to global solar installations[4].
- The global solar capacity is projected to expand to a terrific 1 TW per year by 2030[3].
Sources: Enrichment Data
- In line with the global trend, the community policy might highlight the importance of solar energy and encourage its adoption, especially in light of the impressive growth projections for the solar industry.
- The employment policy could prioritize the job creation in the solar sector, given the anticipated increase in electromobility and the global expansion of solar energy, as evidenced by the 1 TW per year global solar capacity expected by 2030.
- Germany, with its 14% growth in solar capacity projected for 2024, could see a surge in job opportunities in the solar sector, further strengthening its employment policy in this area.
- As solar installations continue to rise, environmental science and data-and-cloud-computing sectors could experience growth, due to the need for data analysis and storage solutions to manage the increasing solar energy data generated.
- Technology advancements in solar storage, such as vehicle-to-grid (V2G) technology, could open up new employment opportunities in the technology sector, contributing to the overall employment policy and helping to address climate-change concerns.
