BloombergNEF now estimates that solar will outpace coal by 2032, making up 20.6% of global electricity generation.

Costs for solar panels are expected to drop another 30% in the coming decade, helping the tech cement its lead in energy markets.

BloombergNEF now estimates that solar will outpace coal by 2032, making up 20.6% of global electricity generation.

Solar power will be the single-largest source of electricity by 2032, Bloomberg said in its annual New Energy Outlook report. Keep reading.

BNEF's latest annual New Energy Outlook details a "much changed" global market, spurred by energy security and huge uptake of cheap solar and batteries.