10 Fastest-Growing Energy Sources in 2020

9. Solar Thermal

Solar thermal collects sunlight to produce high-temperature heat that is required to generate electricity. The growth of solar thermal has been consistently positive on a global level as by 2000 to 2010 there was an average growth of about 21%. In 2019 there was +1.5% growth in the solar thermal market in the European Union. Moreover, around 381.6 MW solar thermal projects were built all over the world and hence, the increase rate was of 6.29%. The two sectors in which solar thermal has experienced the most steady growth are district heating and industrial processes

According to Mordor Intelligence, by 2020 to 2025, the solar thermal market is expected to have a compound annual growth of 3%. According to the International Energy Agency, solar thermal heat consumption in the building sector is expected to increase by 40% by 2025.

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