Global PV installations reached a record high of 243 GW in 2022, bringing cumulative installations to 1,185 GW. The International Energy Agency predicts even more rapid expansion, with more than 800 GW installed annually in the 2030s, and 41% of the world's electricity to be supplied by solar power by 2050. The main reason for this expansion is the dramatic drop in the cost of electricity generation. Contrary to this global trend, the amount of PV installed each year in Japan has been on a downward trend. The cost of solar power generation in Japan has been relatively high compared to the rest of the world, but in some projects by the end of 2023, the cost reached less than 8 yen per kWh. The key challenge is to expand the deployment of solar power through the use of roof tops and abandoned farmland.
