THE ROLE OF SOLAR ENERGY IN GLOBAL ENERGY TRANSFORMATION

Climate change is a big worry in our world today. The Paris Agreement set a goal to keep global temperature rise below 2°C and ideally at 1.5°C compared to pre-industrial times. To hit these climate targets, we need a major shift in how the world uses energy. This shift is possible if we quickly replace fossil fuels with low-carbon technologies. Solar energy, along with wind power, will lead this change in the global electricity sector. Wind power could supply over one-third of the world’s electricity needs, while solar power (from photovoltaic or PV panels) could cover 25%. By 2050, solar energy might reach a total capacity of 8,519 gigawatts (GW), and wind could hit 6,044 GW.

To meet the Paris Agreement goals, energy-related greenhouse gas emissions need to drop by about 3.5% every year until 2050 and keep falling after that. Switching to low-emission energy sources and boosting renewable power could cut energy-related emissions by around 60% by 2050. If we also use more renewable electricity directly (like in homes or factories), emissions could drop by 75%. Adding energy efficiency like better appliances or buildings could push that reduction above 90%.

Renewable energy projects and smarter energy use could deliver over 90% of the CO2 cuts needed by 2050.

Solar Power’s Big Role

Solar energy, paired with wind, will drive the change in how we produce electricity worldwide. By 2050, solar PV could provide 25% of global electricity, thanks to its huge potential of 8,519 GW of installed capacity. This growth comes from using abundant sunlight with the best technology in sunny regions around the world.

                                                                                                                            

Solar energy has the potential to be installed by 2050.

Solar PV could cut 4.9 billion tons of CO2 by 2050. Expanding solar power helps reduce emissions across all low-carbon options. When combined with widespread electrification (like electric cars or heaters), solar could account for 21% of total emission reductions—nearly 4.9 billion tons of CO2—by 2050.

PV solar energy will contribute to a reduction of 4.9 billion tons of CO2 by 2050.

Solar power will also be one of the cheapest ways to make electricity. Its costs are already competitive with all other power sources (even fossil fuels), and they’re expected to drop further—down to 2-8 US cents per kWh by 2030 and 1.4-5 US cents per kWh by 2050. Most global solar investment will flow to Asia, averaging $113 billion per year until 2050. China will lead with about 57% of that, followed by India at 18%. North America will see $37 billion yearly, and Europe will get $19 billion.

         

Yearly Solar Investment by Region (2019-2050, in billions USD/year)

By 2050, Australia could have the highest solar share at nearly 40%, followed by the US at 33%, South Africa at 32%, and Japan at 30%.

                    

More Solar in Power Grids by 2030 and 2050

Different countries will see higher solar use in their grids over time, with big jumps expected by 2030 and 2050.

Source: nangluongvietnam.vn