Trina Solar CEO expects 14 terawatts of PV worldwide by 2050
Post date: 29/04/2022 - 11:21
Gao Jifan, founder and CEO of Chinese solar group Trina Solar Co, Ltd, has set ambitious expectations for the development of photovoltaics at this year’s Boao Forum for Asia. According to a report by Bloomberg news agency, Gao said that the global installed solar power capacity, which he estimates at around 800 gigawatts at the end of last year, could rise to 14 terawatts by 2050 and contribute 50 percent to global electricity consumption. Currently, the rate is 3.3 percent, according to market research firm Bloomberg New Energy Finance (BNEF). BNEF estimates the share achievable by 2050 to be around 22 percent.
According to Gao, the cost of solar power could drop to one-third or less of today’s level by 2050. The Trina Solar CEO cites a large-scale expansion of storage infrastructure and the construction of high-voltage transmission grids as important prerequisites for the growth he describes. The solar industry would also need to provide manufacturing capacity for an annual global addition of well over 400 gigawatts.
The Boao Forum for Asia (BFA), named after the meeting venue in China’s Hainan province, is an annual gathering of political, business and research leaders formed in 1998 based on the model of the World Economic Forum in Davos and held this year from April 20-22.