THE ERA OF SOLAR POWER: GLOBAL CAPACITY AND STRUCTURE

Abstract

The article is devoted to the study of current aspects of global solar power generation development. The paper analyses and systematises the key factors determining the scale and structure of solar generation: the physical foundations of solar irradiance, the fundamental efficiency limitations of silicon photovoltaic cells, the dynamics of generation cost reduction, and the regional distribution of insolation potential, particularly in Ukraine. The global volumes and structure of solar generation are analysed, leading to the conclusion that Solar PV has ceased to be a promising technology of the future — it is already the dominant force of the global energy transformation of today, and its role will only continue to grow. The article argues that the economic trajectory of the industry confirms its unrivalled position. The 90% reduction in LCOE over fourteen years is unprecedented in the history of energy. No other generation technology has demonstrated a comparable cost reduction curve. This means that Solar PV will remain the cheapest alternative source of generation in most regions, while the competitive gap with other technologies will continue to widen. It is noted that Solar PV is a strategic priority for Ukraine. The insolation across the entire territory of the country exceeds the average figures of Germany — a recognised global industry leader. The difference between regions, on a 25-year system lifespan scale, affects the payback period by only 1.5–2 years, which is non-critical under any investment planning horizon. The global experience of solar generation development is examined, and the comparative advantages over alternative technologies — wind and nuclear power — are identified in terms of scalability, logistics, and capacity factor. Key trends in the further development of the industry are determined, among which are the achievement of nuclear-level generation by solar power in the coming years and the transition to tandem architectures as a pathway to overcoming fundamental efficiency limitations. It is concluded that the inexhaustibility of the resource, the unprecedented cost reduction curve, unique scalability, and the enormous volume of global capital investment create for Solar PV a competitive position that no other renewable generation technology will be able to constitute a real alternative to in any foreseeable perspective.