The International Energy Agency (IEA) has described solar as the “new king” of the the world's electricity markets as the technology is set to smash deployment records.
Cost-efficiency gains will continue despite claims that solar development would be set back by the COVID-19 pandemic, says thinktank IEEFA.
Despite proving more resilient than fossil fuels, investment in renewables looks set to be heavily hit by COVID-19 as investment in the energy sector plunges to lowest level in history.
Residential solar installations will take longer to rebound from the COVID-19 slowdown than most renewables, making it unlikely solar PV will surpass 2019 levels over the next year.
The latest episode of the Solar Media Podcast is now available to listen to, featuring discussion around how the COVID-19 pandemic has sent power prices tumbling.