Even solar energy’s biggest fans are underestimating it

illuminem summarizes for you the essential news of the day. Read the full piece on Vox or enjoy below:

🗞️ Driving the news: Solar energy is growing at an extraordinary pace, surpassing even the most optimistic forecasts
• In 2024, global solar capacity is expected to grow by 29%, with 593 gigawatts being added — more than one-quarter of the power produced by all global coal plants combined
• This rapid growth is driven by falling costs, increased efficiency, and scalability of solar technology

🔭 The context: Solar panel efficiency has improved from 15% to over 26% in the last 40 years, while costs have plummeted by 89% since 2010
• Solar now provides about 5.5% of the world's electricity, but it faces challenges like grid integration and variability
• Despite these issues, storage technologies like batteries are improving, helping mitigate solar’s intermittency

🌍 Why it matters for the planet: Solar energy offers a scalable, low-cost solution to reducing reliance on fossil fuels, essential for meeting global climate goals and reducing greenhouse gas emissions

⏭️ What's next: Global solar capacity is projected to nearly quadruple in the next decade, with major expansions in China, Europe, and the U.S. However, grid limitations and trade barriers may slow the pace of adoption

💬 One quote: “Solar does continue to surprise us... It’s been roughly 30 percent growth each year for 30 years.” — Gregory Nemet, author of How Solar Energy Became Cheap

📈 One stat: Solar electricity prices have dropped by 89% since 2010

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