SINGAPORE: Utility-scale solar power capacity is expected to grow by double digits globally in 2019 and 2020, driven by expansions in the United States, Europe, Middle East and China, US bank Goldman Sachs said on Thursday.
Solar power is the fastest growing source of electricity generation, taking market share from fossil fuels like thermal coal and natural gas as governments and companies increasingly introduce clean energy targets.
“We expect the combination of lower costs for solar and favorable policy support providing a multi-year runway for utility-scale to drive meaningful upside to the market,” the US investment bank said in a research note.
Goldman said it expected utility-scale solar installations globally to reach to 108 gigawatts (GW) in 2019, up 12 percent on the previous year, and then grow by another 10 percent in 2020 to 119 GW.
For 2021 and 2022 the bank expected capacity to reach 129 GW and 135 GW.
Utility-scale solar is defined as an installation that is designed solely to feed electricity into a grid, unlike smaller scale residential solar units.
Including residential installations, most analysts expect global solar power capacity to soon hit 600 GW.
“We anticipate some of the strongest growth to materialize in key regions such as the US, Europe, and the Middle East while we see some potential upside emerging in China where demand appears to have stabilized in recent months following a collapse through the latter part of 2018,” it added.
Solar power has been booming not just because of government and corporate sustainability targets, but also thanks to a sharp drop in panel prices in recent years.
Solar panel costs have plummeted from around $70 per watt of electricity generated in 1980, to $0.36 per watt currently in the United States, according to energy consultancy Wood Mackenzie.
Thanks to the solar boom, Goldman said it was “selectively constructive” on solar companies, with First Solar, Canadian Solar, Vivint Solar, Longi Green Energy Technology and Tongwei expected to perform well.
Large-scale solar power set for double-digit growth
Large-scale solar power set for double-digit growth
- Solar power is the fastest growing source of electricity generation, taking market share from fossil fuels
- Goldman said it expected utility-scale solar installations globally to reach to 108 gigawatts (GW) in 2019
Saudi Arabia leads outcome-based education to prepare future-ready generations: Harvard Business Review
- The Riyadh-based school group developed a strategy that links every classroom activity to measurable student competencies, aiming to graduate learners equipped for the digital economy and real-world contexts
RIYADH: Saudi Arabia’s education system is undergoing a sweeping transformation aligned with Vision 2030, shifting from traditional, input-focused methods to outcome-based education designed to equip students with future-ready skills, Harvard Business Review Arabic reported.
The transformation is being adopted and spearheaded by institutions such as Al-Nobala Private Schools, which introduced the Kingdom’s first national “learning outcomes framework,” aimed at preparing a generation of leaders and innovators for an AI-driven future, the report said.
Al-Nobala has leveraged international expertise to localize advanced learning methodologies.
The Riyadh-based school group developed a strategy that links every classroom activity to measurable student competencies, aiming to graduate learners equipped for the digital economy and real-world contexts. The school’s group approach combines traditional values with 21st-century skills such as critical thinking, communication, innovation and digital fluency.
According to the report, the shift addresses the growing gap between outdated models built for low-tech, resource-constrained environments and today’s dynamic world, where learners must navigate real-time information, virtual platforms, and smart technologies.
“This is not just about teaching content, it’s about creating impact,” the report noted, citing how Al-Nobala’s model prepares students to thrive in an AI-driven world while aligning with national priorities.
The report noted that Saudi Arabia’s Ministry of Education has paved the way for this shift by transitioning from a centralized controller to a strategic enabler, allowing schools such as Al-Nobala to tailor their curriculum to meet evolving market and societal needs. This is part of the long-term goal to place the Kingdom among the top 20 global education systems.
Al-Nobala’s work, the report stated, has succeeded in serving the broader national effort to link education outcomes directly to labor market demands, helping to fulfill the Vision 2030 pillar of building a vibrant society with a thriving economy driven by knowledge and innovation.
Last February, Yousef bin Abdullah Al-Benyan, Saudi Arabia’s minister of education, said that the Kingdom was making “an unprecedented investment in education,” with spending aligned to the needs of growth and development. He said that in 2025, education received the second-largest share of the state budget, totaling $53.5 billion.
