from Oil Price:
The International Energy Agency updated their technology roadmaps for solar PV and solar thermal energy, suggesting that, with significant policy and technological progress, solar could collectively contribute 27 percent of global electricity by 2050. Some commentators were quick to exclaim victory, but let’s remember that the IEA has provided a “roadmap” not a set of predictions, nor projections. To achieve that 27 percent requires a high global carbon price – which doesn’t yet exist – and for average annual solar PV deployment to quadruple from 36 GW installed in 2013 to 200 GW/yr between 2025 and 2040. Such deployment will require massive incentives, of which, in their current form, IEA says are “largely unsustainable.”
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