All Energy Solar

How Much Electricity Can Solar Panels Generate?

Solar energy is one of the world’s most promising renewable energy sources, with an increasing number of property owners and businesses looking to harness its potential. In 2023, solar panels are more efficient and cost-effective than ever, and the amount of energy they can generate has significantly increased.

Factors at play

The amount of energy solar panels can generate depends on several factors, such as the size and type of the solar panel, the efficiency of the solar cells, the amount of sunlight the panel receives, as well as the geographical location of the panel. Typically, solar panels convert around 15-20 percent of the energy they receive from the sun into electricity, with some of the most advanced models achieving up to 26 percent efficiency.

Growing solar capacity

According to data from the International Renewable Energy Agency (IRENA), the global capacity of solar photovoltaic (PV) power reached 3,372 GW in 2022, up from 43 GW in 2010. An independent climate think tank Ember found that 12 percent of the world’s power came from solar and wind in 2022, up from 10 percent of global electricity generation in 2021, with solar repeating for the 18th consecutive year as the fastest-growing source of electricity. 

Rapidly advancing technology

In addition to the growth of solar energy capacity, advancements in technology have also contributed to the increase in energy generation from solar panels. For instance, bifacial solar panels have become increasingly popular due to their ability to generate energy from both sides of the panel, which increases their efficiency. This option is best utilized for specific applications and you should consult with your solar installer on if it’s the right fit for your installation.

As the cost of solar panels continues to decrease, technology improves, and panel performance increases, solar energy will likely play an even more significant role in the global energy mix in the years to come.

Contact All Energy Solar today to schedule a consultation and learn how we can help you make the switch to clean, renewable energy.

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