Snapshot of photovoltaics - February 2018

Solar photovoltaic electricity generation is the fastest growing power generation source world-wide. The significant cost reduction of solar PV over the last decade, and the zero fuel cost volatility have increased the attractiveness. In 2017, the newly installed solar PV power of over 90 GW was more than all the world-wide cumulative installed PV capacity until the mid of 2012. China was again the main driver behind this strong growth with more than 50 GW of annual installations in 2017. Apart from the electricity sector, renewable energy sources for the generation of heat and environmental friendly synthetic-fuels for the transport sector will become more and more important in the future.