IEA sees big potential for solar power

Solar power is expected to provide almost a quarter of the world's electricity supplies by 2050, according to a new report published by the International Energy Agency (IEA). "The combination of solar photovoltaics and concentrating solar power offers considerable prospects for enhancing energy security while reducing energy-related CO2 emissions by almost six billion tonnes per year by 2050."

Eleven percent of total supplies are predicted to come from solar panels on homes and offices while a further 11 percent will be provided by central solar power stations feeding clean electricity to populous areas.

The IEA expects North America to be the largest producer of CSP electricity, followed by India and North Africa -- which will likely export half of its output to Europe.

Solar power currently accounts for 0.5 percent of total electricity supplies, but this will need to rise if cuts in carbon emissions are to be achieved, according to the IEA.

The future success of solar power stations (known as Concentrating Solar Power or CSP) will depend on the development of "dedicated transport lines," but the IEA predicts that it could become competitive with coal and nuclear power plants by 2030.

With the right policies in place, the IEA says that solar panels on residential and commercial buildings could compete with traditional electricity supplies by 2020 in many regions. By 2030 the IEA anticipate solar panels will provide five percent of global electricity.