Viewing a single comment thread. View all comments

ForHidingSquirrels OP t1_is7j2xo wrote

Since sometime in 2015, when solar growth really started picking up in terms of total volume - we've been hearing that growth rates won't keep up when growing from a larger base...but here we are in 2022 - with a projected 30% global growth this year, and almost the same amount last, yeah - but something foolishly large projected for next year - 100% manufacturing capacity growth?

Tells me I should ignore most things said to me in2015.

33

grundar t1_isb5cv7 wrote

> here we are in 2022 - with a projected 30% global growth this year

Actual generation in 1H2022 shows that projection is realistic. Comparing to actual 2021 generation, we see wind is up over 20% YOY and solar is up over 25%.

Estimating the actual growth rate is a little tricky, as we have full-year 2021 vs the increase between 1H2021 and 1H2022, but a little napkin math gives ~22% increase pace for wind and ~30% pace for solar. Weighting those by their share of generation gives a 25% increase from 2021 to 2022 in energy generated, meaning wind+solar will increase from 10% of global electricity generation in 2021 to about 12.5% of global electricity generation in 2022.

That's a surprisingly rapid rate of conversion, and it's even more astonishing that it's still growing 25% yearly. That growth rate can't continue forever, of course, but it's continued longer than I think most people would have guessed. That growth rate falling to 0 over the next 5 years (+20% then +15%, etc.) is a fairly pessimistic trajectory, but even that would result in 60% growth, meaning ~4% of global electricity generation being converted to clean power annually. As fossil fuels currently provide 60% of electricity, that pace would see fossil fuels squeezed down to a small share (20%) by 2035.

7

yesididthat t1_isac760 wrote

>Tells me I should ignore most things said to me in2015.

Yes and in 2029 we'll all look back and laugh at your prediction for next year

2