The global photovoltaic installed capacity has exceeded the 1TW milestone

The latest data shows that the installed photovoltaic modules worldwide are sufficient to generate 1 terawatt (TW) of electricity, marking a historic milestone in the application of renewable energy.

This global achievement is inseparable from the continuous promotion of new projects around the world. For instance, in 2022, Solar First Group continued to make efforts and successfully completed the grid connection of multiple photovoltaic power station projects of different types in several countries including China, Japan, Canada, Malaysia, and Indonesia. These projects cover a wide range of application scenarios from large-scale ground-mounted power stations to commercial and industrial rooftops, providing strong support for the clean energy transition of the countries where they are located. At the same time, they have directly injected impetus into the historic milestone of global photovoltaic installations exceeding 1 terawatt (TW), becoming an indispensable part of the global energy transition wave.

（The photovoltaic project of Solar First Group）

In 2021, with the improvement of photovoltaic power generation efficiency and the prominence of cost-effectiveness, the installed capacity of household photovoltaic power (mainly rooftop photovoltaic power) set a growth record, and the installed capacity of commercial and industrial photovoltaic power also showed a significant increase.

At present, the total amount of global photovoltaic power generation is theoretically sufficient to meet the electricity demands of almost all European countries - although constrained by bottlenecks in power transmission and storage, it is still not enough to shake the dominant position of traditional energy sources.

（The photovoltaic project of Solar First Group）

 According to data estimates from BloombergNEF, global photovoltaic installed capacity exceeded 1 terawatt (TW) last week. This means that "we can officially use terawatt (TW) as the unit for measuring the installed capacity of photovoltaic power."

Take Spain as an example. The country has an average annual sunshine duration of about 3,000 hours, which theoretically can generate 3,000 terawatt-hours (TWh) of photovoltaic power generation. This is close to the total electricity consumption of major European countries, including Norway, Switzerland, the United Kingdom and Ukraine - approximately 3,050 terawatt-hours (TWh). However, the reality is that currently only about 3.6% of the electricity demand in the European Union is met by solar energy, while in the UK it is slightly higher, at approximately 4.1%.

Bloomberg New Energy Finance predicts that based on current market trends, solar energy will account for 20% of Europe's energy structure by 2040.

According to data from BP's "Statistical Review of World Energy 2021", 3.1% of the world's electricity in 2020 came from photovoltaic power generation. Given that the installed capacity of photovoltaic power rose by 23% last year, it is expected that this proportion will approach 4% in 2021. The growth of photovoltaic power generation is mainly driven by China, Europe and the United States - the combined installed capacity of these three regions accounts for more than half of the global total, jointly leading the critical stage of the global energy transition.

 

（The photovoltaic project of Solar First Group）