IEA PVPS Annual Report 2014

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The IEA Photovoltaic Power Systems Programme IEA PVPS 2014 annual report states electricity from solar photovoltaic (PV) power systems has continued to grow all around the globe achieving, for the first time in history, more than 1 % of the annual global electricity demand.

Although this number may still appear as small, it represents a tremendous development of the past years, much faster than all predictions had forecasted, be it from the IEA all the way to Greenpeace.

Along with this important market growth, PV has further gained in cost-competitiveness and has become one of the least cost options of renewable electricity, achieving remarkable levelized costs of electricity as low as below 6 USDcents/kWh in the best cases.