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Status And Future Trends Of The Global Photovoltaic Market

Jul 18, 2023

In recent years, photovoltaic power generation has continued to grow globally.


The data shows that in 2022, the global newly installed photovoltaic capacity will be 230GW, with a year-on-year growth rate of 35.30%. By the end of 2022, the global cumulative photovoltaic installed capacity will reach 1156GW.


At the main forum of the photovoltaic industry development review in the first half of 2023 and outlook for the second half of the year held on the morning of July 20, the China Photovoltaic Industry Association raised its forecast for new global photovoltaic installations in 2023 from 280-330 GW to 305-350 GW.


The report of the International Energy Agency predicts that the new installed capacity of photovoltaics will account for 2/3 of the newly installed capacity of renewable energy this year. The PV industry is expected to more than double its manufacturing capacity to 1,000 GW by 2024.


Previously, industry analysts predicted that by 2030, the share of solar energy in total global power generation will increase from 3.3% in 2020 to 9.0%, and the main markets are located in the Asia-Pacific region and Europe, such as China, the European Union, the United States, India, Japan, etc.

 

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