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Solar energy boosts investment and production
The article discusses the rapid transformation in the photovoltaic solar energy sector and its increasing role as a driver of investment and manufacturing, especially in emerging and developing economies. It explains that the demand for electricity is rising due to economic growth and urban expansion, alongside declining technology costs and improved competitiveness. China remains the global leader, having become the largest market in terms of installed capacities and annual additions. It is expected that the contribution of solar energy to electricity generation will exceed 20% by 2030, with additional capacities surpassing those added by the rest of the world combined between 2026 and 2030. India is accelerating its expansion, while Africa is experiencing the highest annual additions and holds 60% of the world's solar resources, with a focus on expanding access to electricity and local manufacturing. Egypt is working on domestic manufacturing of solar energy technologies, with projects aimed at increasing industrial capacity and creating thousands of jobs. The expansion of solar energy has become part of economic and security policies, aimed at enhancing energy system resilience, reducing costs, and attracting investments.
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