How Solar Energy Could Be the Largest Source of Electricity by Mid-Century

By 2050, solar energy could throttle past fossil fuels, wind, hydro and nuclear as the world's largest energy source. In reports just released by the International Energy Agency, solar photovoltaic systems are poised to generate up to 16% of the world's electricity.  the combined ability of solar thermal electricity and concentrating solar power plants could provide up to additional 11%.

“The rapid cost decrease of photovoltaic modules and systems in the last few years has opened new perspectives for using solar energy as a major source of electricity in the coming years and decades,” said IEA Executive Director Maria van der Hoeven. “However, both technologies are very capital intensive: almost all expenditures are made upfront. Lowering the cost of capital is thus of primary importance for achieving the vision in these roadmaps.”

Read more at IEA's website.