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).