The solar industry is on track to experience unprecedented growth in 2024, with projections indicating an addition of 593 gigawatts (GW) of new capacity. This surge surpasses earlier forecasts and continues the robust expansion observed in the past year.
According to a report released by the Ember think tank on Thursday, the solar sector is expected to grow by nearly 29 percent compared to the previous year. This growth follows an impressive 87 percent increase in 2023, underscoring the industry's rapid development.
\"Yet again, solar power is growing faster than people expected, as it establishes itself as the cheapest source of electricity globally,\" stated Euan Graham, electricity data analyst at Ember.
Highlighting the remarkable pace of solar expansion, Ember's projections reveal that the new solar capacity planned for 2024 alone will exceed the total 540 GW of additional coal power that has been added worldwide since 2010.
Reference(s):
cgtn.com
