The great solar boom: a global perspective into the far reaching impact of an unexpected energy revolution

Abstract

Abstract This study offers a unified perspective into the unexpected solar energy photovoltaic revolution, and its far reaching impact onto both energy generation and electricity markets. Practically relevant aspects, such as those related to the value of solar PV electricity, land consumption, energy return on energy invested, reliability of the technology, the structure of the global PV industry, the cost of Li ion batteries and related market trends are clarified. We identify the main barriers to overcome for solar PV to expand beyond a niche market (say, <10% of a country's power generation), and the related societal benefits with electrification of energy end uses.