Analyst project 2023 annual installations to grow to more than 300 GW and by 2025 more than 400 GW. In 2022, PV represented approximately 46% of new U.S. electric generation capacity, compared to 4% in 2010. Solar still represented only 9.0% of net summer capacity and 4.7% of annual generation in 2022.
Utility-Scale Solar, 2023 Edition. Lawrence Berkeley National Laboratory. According to Infolink (formerly PV Infolink), the top 10 module manufacturers were responsible for 160 GW (+57% y/y) in H1 2023 and the top 5 cell manufacturers together shipped 84 GW of cells (+49% y/y).
Image: Meyer Burger. As 2023 comes to an end, PV Tech is reviewing the year in solar, reflecting on some of the biggest stories and trends of the last 12 months. In the third quarter of 2023, the European solar manufacturing industry demanded actions to address the influx of Chinese modules, although the EU increased its solar capacity targets.
Australian and Indian first PV installations in H1 2023 shrank modestly, y/y. EIA projects the percentage of U.S. electric capacity additions from solar will grow from 45% in 2022 (17 GWac) to 56% in 2023 (31 GWac) and 62% (41 GWac) in 2024. The United States installed 11.2 GWac (11.8 GWdc) of PV in H1 2023—its largest H1 ever—up 44% y/y.
The current manufacturing capacity under construction indicates that the global supply of solar PV will reach 1 100 GW at the end of 2024, with potential output expected to be three times the current forecast for demand.
This worldwide acceleration in 2023 was driven mainly by year-on-year expansion in the People’s Republic of China’s (hereafter “China”) booming market for solar PV (+116%) and wind (+66%).
The slight rise in residential solar pricing from 2020-2023 is largely attributed to supply chain tangles from the pandemic. ... Installation labor accounts for around 5.5% of the total cost of a residential solar project, ... the first modern solar …