Despite its many challenges, 2020 marked a record-breaking year for renewable energy. Solar photovoltaics (PV) will be at the forefront of this continued opportunity in 2021-2022, with renewable energy expected to account for 90 percent of new capacity expansion globally.
Alex Dolya and Marko Lackovic
Despite its many challenges, 2020 marked a record-breaking year for renewable energy. Solar photovoltaics (PV) will be at the forefront of this continued opportunity in 2021-2022, with renewable energy expected to account for 90 percent of new capacity expansion globally.
This period of accelerating growth is framed by a needed US$6 trillion power sector investment to 2025, out-pacing oil and gas investments and underpinned by renewable energy expansion. This reflects an essential area of opportunity for Indonesia and the Southeast Asia region.
Solar PV is now a mature and disruptive renewable energy technology, leading capacity additions around the globe. Annual installation of solar PV is expected to reach more than 160 gigawatts in 2022, almost 50 percent higher than in 2019. Rooftop solar is a critical element of this opportunity, unlocking the substantial generation capacity of building stock across the Southeast Asia region.
Shining a light on solar rooftop potential
Rooftop solar installations provide an opportunity to generate significant volumes of zero-carbon renewable energy from otherwise unutilized urban and commercial environments. The economic potential of this technology has seen significant improvements over recent decades, making rooftop solar an increasingly cost-effective distributed energy solution.
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