4 ms·
Global PV annual power production was at ~1800 TWhr/yr in 2019. Total global electricity generation was ~26,000 TWhr/yr.[1] If the doubling time is 4 years, it
by lambdatronics 5y ago
Global PV annual power production was at ~1800 TWhr/yr in 2019. Total global electricity generation was ~26,000 TWhr/yr.[1] If the doubling time is 4 years, it would take about 15 years (so 2034) for solar to be producing as much as the current global electricity generation. At that point, the cost will have dropped to 28% of what it is now (so let's say it's $20/MWhr now, that becomes ~$5/MWhr.
If the doubling keeps up, then solar would hit the current total world energy consumption only 3 years later (ie, before 2040). Exponential scaling is crazy. I've tried incorporating the growth rate of current demand, but it only adds a couple years to each of these dates.
[1]https://ourworldindata.org/energy-production-consumption https://ourworldindata.org/energy-production-consumption