Final project draft
Solar PVs Supply VS Demand
The goal of Net Zero by 2050 is critical for countries to achieve to limit the global temperature rise to 1.5 degrees Celsius according to the Paris Agreement. Although the number of countries pledging to achieve net zero emissions has been growing, our current efforts still fall short of what is necessary to meet the Net Zero by 2050 goal, indicating that our transition to a fully renewable energy system needs to accelerate.
With the oversupply of Solar PVs and growing electricity demand with the global transition to green economy in the future, we would like to explore the supply and demand of Solar PVs from today to 2050. The demand of Solar PVs will be projected under three different scenarios, including Stated Policy scenario, Net Zero Emissions by 2050 scenario and 100% Solar PVs scenario, using the data on the estimated amount of electricity generation by the Net Zero Emissions by 2050 scenario provided by the IEA.
Current Stated Policy Scenario
The Stated Policies Scenario (STEPS) is designed to provide a sense of the prevailing direction of energy system progression, based on a detailed review of the current policy landscape. It provides a more granular, sector-by-sector evaluation of the policies that have been put in place to reach stated goals and other energy-related objectives, taking account not only of existing policies and measures but also those that are under development. The STEPS provides a more conservative benchmark for the future.
Net Zero Emissions by 2050 Scenario
The Net Zero Emissions by 2050 Scenario (NZE Scenario) is a normative scenario that shows a pathway for the global energy sector to achieve net zero CO2 emissions by 2050, with advanced economies reaching net zero emissions in advance of others. This scenario also meets key energy-related Sustainable Development Goals (SDGs), in particular universal energy access by 2030 and major improvements in air quality. It is consistent with limiting the global temperature rise to 1.5 °C
Global CO2 Emissions from 1900 to 2050
Solar PV production linearly and exponentially
Comparing total electricity capacity in different scenarios until 2050
Solar Capacity by Scenario 2010-2050
Average Yearly Increase in Capacity by Scenario
Projected Electrical Capacity with Exponential Growth
Yearly Increase in Solar PV Capacity for Different Scenarios
