Global solar capacity increased by 268 GW this year to 1.2 TW

The world is trying to switch to renewable energy faster than ever before. We can say that the outbreak of the energy crisis between Russia and Europe contributed to this transition. Thus, countries have reached a mentality that can no longer tolerate dependence on energy. In the field of renewable energy, solar energy gained a very successful momentum this year.

Installed solar energy reaches 1.2 TW

BloombergNEF Analyst Jenny Chase said in her statement that they estimate that a total of 268 GW of solar energy has been installed worldwide in 2022. An installation with a capacity of 168 GW was carried out in 2021, thus an increase of more than 50 percent. According to 2021 data, global solar power capacity had reached 940 GW. Therefore, the installed solar energy capacity in 2022 will thus reach the level of 1.2 TW.

It is said that the country with the most solar energy installed in 2022 is China by far. There are no exact figures, but it is stated that China alone has installed more than 100 GW. On the other hand, it is stated that Europe installed 42 GW during the year, but it has almost 30 GW of uninstalled solar panels in its inventory. In general, long-term forecasts appear to be largely wrong. The current 268 GW installation was predicted to be done between 2026-28. But change is happening fast.

316 GW installation is targeted in 2023

Next year, 316 GW of new installed solar power plants are expected to be built worldwide and 48 GW in Europe. If the growth continues at this rate, the 400 GW level is not a dream either. However, polysilicon and module prices generally remained high due to demand. However, high prices are not as bottleneck factors as before. In addition, the adoption of the US’s Inflation Reduction Act (IRA) will greatly benefit the country’s renewable energy.