Solar power exceeds 1 TW worldwide, enough to power all of Europe

Distribution and storage limitations mean this is only a fraction of the world’s energy supply.

According to the latest reports, we already have enough solar panels in the world to produce 1 TW of electricity, a huge step forward in the renewable energy sector.

This solar energy would be enough to meet the electricity consumption of practically all European countries.although distribution and storage problems mean that only a small fraction of the world’s energy supply remains.

According to BloombergNEF data by photovoltaic publication PV Magazine, they estimated global solar capacity to exceed 1TW, which means “we can officially start measuring solar capacity in terawatts”.

In a country like Spain, which has about 3,000 hours of sunshine per year, this would be equivalent to 3,000 TW-hours.

This figure is just below the combined electricity consumption of all major European countries (including Norway, Switzerland, the United Kingdom and Ukraine): some 3,050 TWh.

Currently, the European Union covers 3.6% of its electricity needs with solar energy, while the United Kingdom does so with 4.1%.

BloombergNEF estimates that solar energy will represent around 20% of the European energy mix in 2040, based on current market trends.

Other estimates from the BP Statistical Review of World Energy 2021 calculate that 3.1% of the electricity produced in 2020 came from solar energy, a figure that is expected to approach 4% in 2021, given that solar installations have increased 23% last year.

China, Europe and the United States are driving the growth of solar energy harvesting, with these three regions accounting for more than half of the world’s installed solar capacity.

The year 2021 has seen record growth in residential installations, typically through rooftop solar panels, while commercial and industrial systems have also seen a significant increase as solar power generation becomes more efficient and profitable.

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