A new study by the International Energy Agency predicts that solar energy from solar photovoltaics, concentrating solar power and solar hot water will account for one-third of overall global energy consumption by 2060.

"In 90 minutes, enough sunlight strikes the earth to provide the entire planet's energy needs for one year," said Cédric Philibert, author of "Solar Energy Perspectives" and a senior policy analyst at the IEA.

"While solar energy resources are abundant, their use currently represent only a tiny fraction of the world's energy mix. But this is changing rapidly and is being driven by action to improve energy diversification and security, mitigate climate change and provide energy access."

At present, only a limited number of countries have been supporting the drive to venture into solar energy technologies.

But economic activity will shift toward the sunnier zones around the equator by 2050, making solar energy a viable power source for most of the global economy, the report said. Those regions will be where most population growth is occurring.

Solar energy has immense potential, Philibert said. He noted it could emerge as a major source of energy amid the worldwide scale debate as to how carbon dioxide emissions must be reduced to quite low levels.