IEA: Solar power could produce 25% of global electricity by 2050

The technology is currently responsible for just 0.1% of electricity generation around the world.

The study, which was requested by the G8 member nations in a 2008 meeting as part of a series of 19 energy technologies, covers the science, financing and policy necessary to make photovoltaics an integral part of the global power infrastructure.

Solar photovoltaics generate electricity by converting sunlight using arrays of cells.

The agency recommends that governments establish long-term targets and policies around the technology to encourage investments and installations. Incentives and financing schemes, such as funding opportunities for rural projects in developing countries, would also help.

Right now, just four countries can produce more than 1 gigawatt from installed photovoltaics systems: Germany, Spain, Japan and the U.S. But countries such as Australia, China, France, Greece and India are catching up.

LA Times