Let’s take a look at how that growth may play out. And offshore wind-which captures far more plentiful wind supply-is also driving growth and it too will throw off amazing gains in the years ahead. Solar in particular has entered a kind of insane mode, as PV production capacity explodes, and is expected to wow the world the next several years. When you start growing new power supply in volumes that exceed the power needs of whole nations, you’ve hit the big time. Some context: the United Kingdom, with a population of 67 million people, consumed just 326 TWh of electricity last year. Now, from a bigger base, wind and solar have added an incredible 514 TWh, advancing from 2913 TWh in 2021 to 3427 TWh in 2022. That’s awfully impressive given that both technologies have been scaling hard for a while, since 2010. Just released annual data from EI Statistical Review shows the trailing five year growth rate of wind and solar generation has bumped up again, from 14.7% in the previous period to 16.6%. Excitement at the raucous growth of global wind and solar is well justified, but their growth rate alone is not the only number that matters.
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