IEA has bright outlook for solar energy

The IEA's Nobuo Tanaka said solar power has the potential to significantly reduce energy-related greenhouse gas emissions in the coming decades.

"The combination of solar photovoltaics and concentrating solar power offers considerable prospects for enhancing energy security while reducing energy-related carbon dioxide emissions by almost 6 billion tons per year by 2050," he added.

He spoke during a Mediterranean Solar Plan Conference hosted in Valencia by the Spanish presidency of the European Union.

Tanaka said effective policy and partnerships in the solar energy sector could lead to solar power supplying as much as 25 percent of global electricity production by 2050.

The executive director added that the combination of photovoltaic units on residential and commercial building could bring solar power to parity with conventional electricity within 10 years.

"This decade is crucial for effective policies to enable the development of solar electricity," he said.