Carbon Crash, Solar Dawn: Deutsche Bank on Why Solar Has Won

Solar energy could increase tenfold to become the world’s dominant electricity source by 2030 and account for 30 percent of the market by 2050, notes a Deutsche Bank report. Most growth is anticipated in developing economies, especially for the 20 percent of the world’s people who lack access to grid electricity. Solar could account for 25 percent of India’s total capacity in less than a decade. Solar energy now accounts for about 1 percent of the electricity market. The report’s predictions are based on growing customer awareness and dropping prices of solar energy, now at grid parity in more than half of all countries and anticipated to be at parity in 8 out of 10 countries within two years. “The case for solar will be boosted by the emergence of cost-competitive storage, which Deutsche describes as the ‘next killer app’ because it will overcome difficulties in either accessing the grid or net metering policies,” reports Giles Parkinson for RenewEconomy. The report is also optimistic about large commercial- and utility-scale solar projects. – YaleGlobal