The sun could be the world's leading electricity source by mid-century with the amount of new photovoltaic (PV) panel installations soaring at 100MW daily, according to a pair of new reports.
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The reports, issued by the International Energy Agency (IEA), stated that by 2050, PV panels could produce 16% of the world's electricity, while solar thermal electricity (STE) is on track to produce 11%. Solar thermal electricity is created by concentrating the sun's rays to produce steam, which then turns a turbine.
Photovoltaic panels capable of producing 137 billion watts (gigawatts) of power have been installed worldwide since the end of 2013, according to the IEA, a Paris-based agency that advises on global energy consumption.
Perhaps just as important, solar power could reduce carbon dioxide emissions by more than 6 billion tons over the next four decades, the reports state.