Current Status and Forcasts

About half of installed capacity is utility scale.

Most new renewable capacity between 2022 and 2027 is forecast to be solar, surpassing coal as the largest source of installed power capacity. Utility scale is forecast to become the largest source of electricity in all regions except sub-Saharan Africa by 2050.

According to a 2021 study, global electricity generation potential of rooftop solar panels is estimated at 27 PWh per year at costs ranging from $40 (Asia) to $240 per MWh (US, Europe). Its practical realization will however depend on the availability and cost of scalable electricity storage solutions.