The global cumulative solar capacity will reach the terawatt scale milestone by 2022. This is happening one year sooner than the previous estimations without considering the COVID-19 pandemic and its destructive effects. By the time, the global cumulative capacity passed 500 GW, all of the data and research centers estimated that the world would enter Terawatt-scale by 2023.
However, no one knows that the world will face the COVID-19 crisis in the middle of the pace towards the terawatt-scale at that time.
According to Solar Power Europe’s report, Global Market Outlook 2020-2024, In the Medium Scenario, they are expected that total global installed PV generation capacity will pass the following milestones over the next 5 years: 700 GW in 2020, and 1.0 TW in 2022, and 1.2 TW in 2023.
It is worth mentioning that the annual added capacity and the global installed capacity were 115 GW and 627 GW at the end of 2019 and surpassing 700 GW seems not to be unexpected in 2020.
Source:@SolarPowerEU, @REN21Community & @Solar_Edition
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