Solar To Surpass Wind In 18 Months, Become Fourth Largest Energy Capacity In The World

Published onMay 31, 2018

Look out, wind – solar is about to catch you. That’s the headline from Frost & Sullivan’s recent analysis Global Power Industry Outlook, 2018, which posits that solar will surpass wind in global energy capacity starting in 2020, making it the fourth largest source of energy generation behind coal, gas and hydro. Less than a year ago, solar surpassed nuclear energy to reach fifth place. The report says increased battery energy storage capabilities, surges in merger and acquisition activities, and disruptive energy start-ups are the primary reasons the renewable energy sector is seeing this surge – and solar has, so far, been the primary beneficiary of this energy capacity expansion. The report also predicts that $2.2 trillion will be invested in new energy capacity through 2021, including more than $600 billion in the solar sector alone.