There are a few drivers behind the growth in solar power generation.
The first being the world’s insatiable demand for power. The last two decades have seen vast populations in the developing world electrify. China alone produced nearly a third of the world’s solar power in 2021 at 327 TWh.
The push away from fossil fuels is another factor. In the past, fossil fuels have been the cheapest and most reliable forms of energy. However, concerns about climate change have led to the widespread adoption of renewables, which do not release harmful CO2 into the atmosphere. Governments around the world have therefore funded and incentivised solar power adoption, which has aided its proliferation.
The last is technological. Advances in solar cell efficiency and manufacturing have lowered the cost of solar power to economically workable levels. Solar panel prices have dropped around 90% since 2010. Now solar power is among the cheapest forms of energy in certain parts of the world