BloombergNEF, a strategic researcher that looks at ways power, transport, industry, buildings and agriculture sectors can adapt to the energy transition, makes ten predictions for solar energy for 2022. The list focuses on the rapid growth of solar across the world as prices fall and the need for storage solutions increase. For more read Solar – 10 Predictions for 2022

Key Takeaways

  • The article predicts 2022 will be the first year in which more than 200GW of solar will be installed.
  • Strong demand for polysilicon materials drove prices up because production could not keep up in 2021. With new capacity ramping up in 2022, there should be an adequate supply that should trigger lower prices. In addition, new technologies joining the mix should help solar manufacturing to grow.
  • Installed utility-scale solar-and-storage will double, with the largest markets in China and the U.S. Residential solar-and-storage will be on the political and investment agenda with greater urgency than in previous years, as it is starting to be a significant sector.

Path to 100% Perspective:

The growth of solar energy and the anticipated lower costs is a huge step on the Path to 100%, but that alone will not be enough. Solar, along with wind, is variable and can’t be relied on to provide enough power around the clock. At night, for instance, solar would not generate power in real time. So the key is finding economical and efficient storage solutions as a backup when needed. One realistic option is power-to-gas (PtG), which could convert access wind and solar power to sustainable fuels, like hydrogen, and store it until needed to power future flexible power plants.