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Global solar PV capacity surges, IRENA says

Economy Materials 14 July 2022 12:58 (UTC +04:00)
Global solar PV capacity surges, IRENA says
Maryana Ahmadova
Maryana Ahmadova
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BAKU, Azerbaijan, July 14. The global average cost of new utility-scale solar photovoltaic (PV) projects commissioned in 2021 decreased by 13 percent year-on-year - from $0.055 per kWh to $0.048 per kWh, Trend reports via the latest publication from the International Renewable Energy Agency (IRENA).

According to the report, over 843 GW of solar PV systems had been installed worldwide in 2021.

“This represented almost 21-fold growth for the technology since 2010. About 133 GW of newly installed systems was commissioned during 2021 alone (13 percent more than in 2020). These new capacity additions were the highest among all renewable energy technologies that year,” the IRENA noted.

Meanwhile, Asian countries contributed about 57 percent to the total solar PV capacity. “Developments there were driven by China, which accounted for around 70 percent of all new Asian (and about a 40 percent of all global) installations”.

However, concentrating solar power (CSP) turned out to be the only source that increased in its cost in 2021.

“With only one CSP plant commissioned in 2021, after two in 2020, deployment remains limited and year-to-year cost changes volatile. Noting this caveat, the average cost of electricity from the new CSP plant was around 7 percent higher than the average in 2020,” the report said.

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