BNEF estimates the 2nd TW will arrive by mid-2023, costing 46% less than the c. $1.3 tn required for the first. 54% wind, 46% solar.
“Total installed capacity has grown 65-fold since the year 2000, and more than quadrupled since 2010. Even more striking is the growth of solar PV alone. As recently as 2007, there was just 8GW of PV capacity installed, compared with 89GW of wind. Since then, PV has grown from just 8% of total installed wind and solar capacity, to 46%. In the process, PV installations grew 57-fold, with utility-scale PV overtaking small-scale PV in 2014.”
This gives a sense of what the world could do, with concerted strategies to mobilise multiple tecnologies-for-good.
Image: from article