The global manufacturing capacity for solar photovoltaic wafers amounted to 367 gigawatts in 2021. Meanwhile, the manufacturing capacity for cells and modules worldwide was 409 and 461 gigawatts, respectively. China dominates the solar PV manufacturing landscape . Get notified via email when this statistic is updated. * For commercial use only
PV manufacturing capacity is projected to more than double by 2024, led by China, but oversupply is also anticipated, according to the International Energy Agency (IEA). Global solar PV manufacturing capacity is set to nearly double next year, reaching almost 1 TW, according to the IEA.
In 2022, global PV manufacturing capacity increased by more than 70% to nearly 450 GW, with China accounting for more than 95% of new additions across the supply chain. In 2023 and 2024, global PV manufacturing capacity is expected to double, with China again accounting for more than 90% of the increase.
The global solar cell and module manufacturing industry is currently operating at a utilization rate of approximately 50%, according to the IEA's Advancing Clean Technology Manufacturing report. It said that global investments in new solar factories amounted to $80 billion in 2023 alone, which is two times more than in 2022.
The International Energy Agency (IEA) says that global solar cell and module manufacturing capacity grew by around 550 GW in 2023. It reports that around 80% of the global PV manufacturing industry is currently concentrated in China, while India and the United States each hold a 5% share. Europe accounts for a mere 1%.
The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond. Announced solar PV manufacturing capacity across the globe has met the deployment levels suggested by the International Energy Agency towards 2030, but only 25% of the announced projects could be considered as committed, according to IEA's recent study.