Solar Capacity and Storage by 2060
According to the DNV report, nearly half of solar capacity will be co-located with storage by 2060.
The Energy Transition Outlook 2025 report predicts that distributed generation solar will outpace utility-scale installations in some parts of the world by 2060.
The report also states that the levelised cost of electricity for solar is beginning to plateau and is expected to slow to an annual drop below 1% by the 2050s.
- Solar power will account for 47% of electricity generation worldwide by 2060, compared to around 2% today.
- From the mid-2030s onwards, around half of new solar installations will be co-located with storage, up from around 6.6% of installations today.
The report expects some regions to have more co-located solar-plus-storage capacity than standalone solar capacity by 2060.
Author's summary: Solar capacity co-location with storage to increase by 2060.