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Solar Energy Will Become The Fourth Largest Generation Of Power Generation Resources In The World In 2020
- May 29, 2018 -

It is expected that in 2019, the solar energy will exceed fifth of the nuclear energy first; by 2020, the solar energy will exceed the wind power and become the fourth largest generation of electricity after coal, gas and hydropower.

The international market research agency, F & Sullivan, announced the global power industry outlook 2018, which is expected to exceed wind power by 2020 and become the fourth largest generation of electricity after coal, gas and electricity.


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Solar energy will become the fourth largest generation of power generation resources in the world in 2020

In 2019, solar energy is expected to exceed nuclear power by fifth.


The report says that the expansion of battery energy, the surge in mergers and acquisitions, and the split growth of energy entrepreneurship are the main reasons for the growth of the renewable energy industry.


In the 2017-2021 year period, the report said that $2 trillion and 200 billion will be invested in generating electricity, which is mainly renewable energy represented by solar and wind energy, accounting for $603 billion 400 million and $553 billion 700 million, respectively.


Similar to 2017, Frost & Sullivan estimated that solar energy accounted for most of the investment and was expected to be $123 billion 30 million in 2018, and China will become the main investor. The demand and investment environment of solar energy and wind energy (SEA) are showing a positive trend.


In 2018, hydropower and biomass investments are expected to remain stable at US $77 billion 60 million and US $2 billion 330 million respectively. On the contrary, as new fan orders will remain similar to 2017, the investment prospects for natural gas are still low, mainly due to the competitiveness of renewable energy for natural gas, and the overcapacity of power grid and other types of electricity generation, and the market lacks a strong demand for new fan orders.

In addition, as China, Europe and the Middle East are adding new nuclear power capacity, nuclear power is beginning to revive. The investment in nuclear power is expected to reach $25 billion 700 million in 2018. The Asia Pacific region will become the last bastion of coal. Because of the negative investment prospect, it is expected to decline steadily year by year.


"In response to current trends and challenges, companies must begin to adopt a business model that can reduce costs and improve operational and process efficiency," said Vasanth Krishnan, an energy and environmental analyst. A disruptive digital solution focusing on consumer demand will make the enterprise and institution closer to technology and efficiency transformation.


The report also highlights several other trends in the global energy sector, including the 3D model of electricity, decarburization, decentralization and digitalization, which remains the basic factor in determining the global power market pattern; the residential battery storage market will be the fastest growing market in 2018, mainly due to the United States, Germany and Australia. Leah's house was deployed after a surge.


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