655GW! Expectations for new global photovoltaic installed capacity in 2024
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).
Three European countries will add PV capacity this year, including Spain (7.54GWdc), the Netherlands (5.52GWdc) and Italy (5.25GWdc). Other countries in the top 10 in terms of installed PV capacity are Japan (5.47GWdc) and South Africa (4.29GWdc).
The study also looked at the cumulative installed PV capacity of European countries up to 2030. Germany leads the continent by a wide margin with 215GW of capacity, with Italy and Spain in second (79.6GW) and third (79.3GW) respectively. By 2030, France (47.6GW), Poland (46.3GW) and the Netherlands (45.7GW) will also be the countries with the largest installed PV capacity.
The global solar PV industry recorded impressive growth in 2023, with installed capacity increasing from 252GWdc in 2022 to 252GWdc in 2023, a year-on-year increase of 76.2%. China added 268GWdc(216.9ac) of new installed capacity last year, accounting for 60.4% of global installed capacity. The United States added 35.2GWdc last year, followed by Brazil (16.9GWdc), Germany (14.1GWdc) and India (13.6GWdc). 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).
Three European countries will add PV capacity this year, including Spain (7.54GWdc), the Netherlands (5.52GWdc) and Italy (5.25GWdc). Other countries in the top 10 in terms of installed PV capacity are Japan (5.47GWdc) and South Africa (4.29GWdc).
The study also looked at the cumulative installed PV capacity of European countries up to 2030. Germany leads the continent by a wide margin with 215GW of capacity, with Italy and Spain in second (79.6GW) and third (79.3GW) respectively. By 2030, France (47.6GW), Poland (46.3GW) and the Netherlands (45.7GW) will also be the countries with the largest installed PV capacity.
The global solar PV industry recorded impressive growth in 2023, with installed capacity increasing from 252GWdc in 2022 to 252GWdc in 2023, a year-on-year increase of 76.2%. China added 268GWdc(216.9ac) of new installed capacity last year, accounting for 60.4% of global installed capacity. The United States added 35.2GWdc last year, followed by Brazil (16.9GWdc), Germany (14.1GWdc) and India (13.6GWdc).
