PV could supply 50 percent of electricity in competitive markets worldwide

A new study by the Mercator Research Institute on Global Commons and Climate Change (MCC) shows that in 2050 the percentage of photovoltaics in the global power supply could be three times higher than previously projected. According to the study the share of solar energy will likely range between 30 and 50 percent, instead of 5 to 17 percent, as suggested before - even if the global demand for electricity continues to rise. The growth of solar energy has been grossly underestimated in the results of the models of the IPCC (Intergovernmental Panel on Climate Change). Costs have dropped and infrastructures expanded much faster than even the most optimistic models had assumed.
According to the scientists, the new results are important for the next IPCC Assessment Report. »In order to tap the full potentials of solar energy, industrial countries – especially the G20 – need to modernize their regulations for the electricity market and promote technologies for new storage methods right now,« says lead author Felix Creutzig, head of the MCC working group Land Use, Infrastructure and Transport.
The study »The underestimated potential of solar energy to mitigate climate change« has been published in »Nature Energy«. The team of researchers include scientists from the Fraunhofer Institute for Solar Energy Systems (ISE), the Potsdam Institute for Climate Impact Research (PIK) and the University of Wisconsin.

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