The world is increasingly growing aware of the detrimental effects of fossil fuel and is actively seeking an alternative. Solar energy is one of the key alternative sources of energy and the technology behind harnessing it is getting economical and accessible with each passing year.
According to the EC, due to a solid industrial foundation, solar power has fast become one of the cheapest technologies for electricity generation worldwide. Between 2009 and 2018, the costs of production decreased by 75% while the market continued to expand. It also mentions that in 2018, the EU solar market grew by 8GW, and by an estimated 15-17GW in 2019. The solar market is expected to continue to grow from 2020 onwards, making solar capacity a cornerstone of the clean energy transition.