WoodMac predicts 3.8 TW of new solar by 2033
- Admin
- Jul 8, 2024
- 1 min read
Solar developers are expected to install 3.8 TW (AC) of global capacity between 2024 and 2033, according to the latest forecast. New wind and solar installations will reach a combined 5.4 TW by 2033. Energy storage capacity is expected to grow significantly. The growth is driven by country-level policy targets, technological innovation, and energy security concerns. The predictions suggest a significant increase in global solar capacity driven by China. Ultra-low module prices are intensifying solar deployments in Europe and China. Technology developments and grid infrastructure expansion are crucial for maximizing solar and wind power capacity.
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