The International Energy Agency has praised the incredible uptick in solar installations over the previous calendar year.
Global installations rose nearly 45% globally, the highest annual increase for over two decades.
The Agency hailed this as the ‘new normal’ for the coming years, with 90% of power capacity expansion set to come from renewable sources over the next two years.
Solar PV has followed this trend and grown by about 50% above its pre-pandemic levels, beating the IEA’s own forecasts. This news is especially positive given the natural uncertainty that had entered the market alongside the virus.
A Rapid Rebound?
With the UK set to exit lockdown restrictions within around 6 weeks, many are hopeful for a period of sustained growth. The Bank of England has recently announced that the economy is set to rebound at the fastest rate for 70 years, putting us back in a much stronger position across the board. This post-pandemic boom is likely to see even further growth across Solar PV & other renewable tech. Entrenched ways of doing things are being reevaluated which provides a real opportunity for the world to embrace a greener future.