Considered to be the 3rd largest energy resource after wind and hydro, solar power can stop the energy crisis that the world is facing- only if the right methods are put to use. With rising awareness, and more government expenditure spent on research & development funding, certain countries have shifted the way we think and consume solar energy. This untapped resource has the power to harness the entire world’s electricity consumption. These 3 countries are taking charge of generating solar power.
China
As of 2023, China continues to dominate the solar industry with a whopping 430 GW of solar power, making it the largest producer of renewable energy in the world. With roughly 50 billion USD spent on new photo voltaic capacity since 2011, it is no doubt why the nation is a clear leader in low-carbon spending in 2022 according to the BloomberyNEF report. China’s share in manufacturing all phases of solar panels exceeds 80%, which is why solar power has become cheaper than coal in this country.
Germany
When it comes to the countries in Europe, Germany is a clear leader. By the end of 2023, the nation stood at 66.55 GW making nearly 10% of the entire nation’s electricity consumption from just solar energy. What makes this feat so impressive among European nations is that Germany has stayed true to their ‘Energiewende’ or ‘Energy Transition’ program to move from a coal & oil dominating power to a leader in low-carbon renewable resources by 2035. In fact, Germany is targeting a 30% share of renewables in final consumption by 2030- which is an exceptional feat.
India
It might not seem like it since India is a developing nation, but this country is blessed with solar energy potential because of the nation’s location. As of 2022, India stood at 62.80 GW of PV installed capacity. The country has also declared an ambitious plan to add 50 GW more of renewable energy capacity within the next 5 years to achieve its target of 500 GW by 2030. Also, India plans to achieve 50% of cumulative electrical power and limit fossil fuel-based energy consumption.
