According to the "Global PV Market Outlook for the first Quarter of 2024" report released by PV-Tech, the global PV installed capacity will increase from about 444GWdc in 2023 to 655GWdc this year. China will continue to dominate the installed capacity in 2024 (313.7GWdc), accounting for 54.7% of the new global PV capacity installed this year. It was followed by the United States (40.6GWdc), India (18.1GWdc), Brazil (17GWdc) and Germany (16.5GWdc).

Under the path of achieving carbon neutrality, by 2030, the global photovoltaic installed capacity needs to increase to nearly seven times that of 2020, and to further expand to nearly 20 times by 2050. GEIDCO: Under China's path to achieve carbon neutrality, by 2030, photovoltaic installed capacity needs to reach 4 times than 2020 year, and by 2050 it needs to reach nearly 13 times.