Renewables have been heavily encouraged by policy measures and financial support, with the explicit aim of driving costs down through early deployment.
IEA Reports said solar photovoltaic (PV) systems could generate up to 16 percent of the world's electricity by 2050, while concentrated solar power plants could provide a further 11 percent.
Wind energy should reach 700 MW capacity this year, and next year the first concentrated solar power (CSP) plant rated at 160 MW should come on stream.
Photovoltaic solar power seems to get most of the attention when it comes to solar, but concentrated solar power electricity from concentrating solar power plants has also improved a lot in the last five years.
Since 2010, generation of solar thermal electricity (STE) from concentrated solar power (CSP) plants has grown strongly worldwide.
The IEA reports that PV could provide 16% of the world’s electricity and concentrated solar power (CSP) could provide another 11%.
Concentrated Solar Power electricity additions were equivalent to the record level achieved in 2012.
The International Energy Agency (IEA, Paris) has issued a report which predicts that global solar photovoltaic (PV) generation capacity will more than double to 308 GW by 2018, with concentrating power (CSP) tripling.
Offshore wind and Concentrating Solar Power grow quickly from low bases. Geothermal energy continues to develop in areas with good resources.
The IEA said some of the technologies with the largest potential, such asoffshore wind power and concentrated solar power (CSP), were showing the least progress.
In 90 minutes, enough sunlight strikes the earth to provide the entire planet's energy needs for one year.
IEA says we could get up to one third of our global energy supply from solar photovoltaics, concentrating solar power, and solar thermal water by 2060.
"Photovoltaic and concentrated solar power together can become the major source of electricity," IEA senior analyst Cedric Philibert told Bloomberg.