The International Energy Agency has underestimated the potential for solar energy in its recent World Energy Outlooks, according to analysis for Energy Watch Group.
The group alleges IEA has failed to take into account the rapid market growth of solar last year and this year.
“For 2015, an estimate of international market research analysts suggests an annual added capacity of PV of 55-60GW. In the WEO, no concrete added capacity numbers are mentioned.”
In addition, the IEA has not considered the replacement of old PV plants starting from 2035, Energy Watch Group said.
“As the cost of PV will further continue to decline, it will stimulate growth of PV installations worldwide.
“At the same time more financial investors are turning their back on fossil and nuclear projects in favor of renewable energies,” the group said.
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