A report from the European Photovoltaic Industry Association (EPIA) states solar panel generated electricity could make up 12% of Europe’s power demand by the end of this decade and up to 9% of the world’s needs by 2030.
PV capacity in Europe is expected to jump from 28 GW last year to close to 100 GW by 2015 – with the potential to nudge 350 GW globally by 2020. This would represent a carbon emissions mitigation level of 1.4 billion tonnes of carbon dioxide globally each year.
The report, called “Solar Generation 6” was published today by the EPIA and Greenpeace International and states estimated investments in the PV industry in the European Union could increase from a current €25-30 billion to over € 35 billion in 2015.
Aside from generating clean electricity, PV’s role in job creation was also highlighted. According to Sven Teske, Senior Energy Expert at Greenpeace International, the organisation’s research shows that it creates 35 to 50 jobs per tonne of carbon dioxide savings. The European PV industry already employs 300,000 people and could grow to 1.6 million jobs in 2020 if general policy support remains effective.
Ingmar Wilhelm, President of EPIA, says cost predictions show that the technology is on the brink of an economic breakthrough in the EU, with solar panel prices dropping 40% since 2005. By 2015, the cost of solar power systems is expected to drop by an additional 40%, making them competitive with grid electricity prices for households in many countries of the European Union.
The report also demonstrates solar energy to be a viable and environmentally friendly way to address concerns about energy security and volatile fossil fuel prices.
The “Solar Generation 6” report can be downloaded here.
