Future prospects of solar technology Solar energy is one of the best options to meet future energy demand since it is superior in terms of availability, cost effectiveness, accessibility, capacity, and efficiency compared to other renewable energy sources , .
Solar PV is emerging as one of the most competitive sources of new power generation capacity after a decade of dramatic cost declines. A decline of 74% in total installed costs was observed between 2010 and 2018 (Figure 10).
By 2050 solar PV would represent the second-largest power generation source, just behind wind power and lead the way for the transformation of the global electricity sector. Solar PV would generate a quarter (25%) of total electricity needs globally, becoming one of prominent generations source by 2050.
The photovoltaic electricity industry and its future The PV industry is a rapidly developing industry. The develop- the first silicon solar cell. World PV industry analysts have shown . Worldwide total PV installations represented 1.8 GW in 2000 and 71. 1 GW in 201 1 with a growth rate of 44%. Up to 2012, global a hot issue in the energy sector.
In the REmap analysis 100% electricity access is foreseen by 2030, in line with the Sustainable Development Goals, and solar PV would be the major contributor to this achievement. costs are expected to reduce further, outpacing fossil fuels by 2020 (IRENA, 2019f).
The high level of competition in the solar PV panel market, mainly due to the future market demand in and the competitiveness of leading countries, is compounded by the fact that transporting solar energy equipment is less cumbersome than transporting other renewable technologies (such as wind).