In view of drastically reduced PV costs, cumulative global installations in excess of 3 TW are anticipated by 2030, continuing current R&D and investment paths. PV cost projections make this technology increasingly attractive for low cost domestic electricity supply. To provide a major contribution to global climate goals, total installations on the order of 20 TW will be needed by 2040. This will require continued investment in worldwide R&D to reduce production costs, increase efficiency and improve reliability.

An increasingly flexible electricity grid, increased availability of low-cost energy storage and demand side management will also play key roles in enabling accelerated PV deployment. In addition to providing a significant fraction of world electricity, PV has the potential to provide low cost energy for mobility and heating market demands.

Following two days of spirited discussion in the Historical Merchants Hall in Freiburg’s old city, the group reached a consensus that a fully integrated research program among institutes, universities and industry, spanning both near and long term needs can address challenges to scale manufacturing and deployment to the levels required.

The Fraunhofer Institute for Solar Energy (Germany), the National Institute of Advanced Industrial Science and Technology (Japan), and the National Renewable Energy Laboratory (USA) are the member institutes of GA-SERI. GA-SERI was founded in 2012.

All three institutions are publishing this press release simultaneously on March 30, 2016 in Germany, Japan and the USA.