The share of global electricity generated by solar photovoltaics could jump more than sixfold in the next 14 years, increasing from 2 percent today to as much as 13 percent by 2030, according to a new report from the International Renewable Energy Agency. Driven primarily by cost reductions, IRENA estimates that total solar PV capacity could reach between 1,760 and 2,500 gigawatts, up from 227 GW currently. The report noted that costs of solar PV hit record lows In 2015 in a number of countries: United Arab Emirates (5.84 cents/kWh); Peru (4.8 cents/kWh); and Mexico (4.8 cents/kWh). In May 2016.

– via International Renewable Energy Agency press release

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