Steve O'Neil, CEO at Norway-headquartered firm REC, said that was likely due to the falling cost of solar energy as a result of technological developments.
"Solar is growing exponentially is what I don't think people realize," O'Neil told CNBC at the sidelines of the Singapore Summit.
That was despite the fact, he said, that currently 2 percent at most of the world's electricity is supplied by converting sunlight into energy.
Part of the increased adoption of solar is likely due to a reduction in the cost of converting sunlight into usable energy.
"Now, around the world, solar energy costs about 8 cents a kilowatt hour.
That's down 70 percent since 2010, and those costs are going to continue to come down as we develop the technology.".
Moreover, he said, improved storage makes it possible to use solar energy even when the sky is cloudy or overcast. »
![image for Taken on my trip on the John Muir Trail a few months ago. Bullfrog Lake, Kings Canyon National Park, California [OC] [3024 × 4032]](2bfd2c7d-2484-56ad-a188-968e8cffa489_qMj92Sr_thumb.jpg)
