BNEF: Global solar additions could reach 655GWdc in 2024
(PV-TECH: Simon Yuen)
The world could install up to 655GWdc of solar PV capacity this year, up from about 444GWdc in 2023, according to BloombergNEF’s (BNEF) 1Q 2024 Global PV Market Outlook.
The report offered multiple scenario about the installed global solar PV capacity, with the conservative and optimistic forecasts being 520GWdc and 655GWdc respectively. In the mid-scenario forecast for global PV installations, the world will install 574GWdc.
China will continue to dominate the installed capacity in 2024 (313.7GWdc), accounting for 54.7% of global solar PV capacity additions this year. China will be followed by the US (40.6GWdc), India (18.1GWdc), Brazil (17GWdc) and Germany (16.5GWdc).
Three European countries will ramp up their installed solar PV additions this year, including Spain (7.54GWdc), the Netherlands (5.52GWdc) and Italy (5.25GWdc). The remaining countries in the top ten list of installed solar PV additions are Japan (5.47GWdc) and South Africa (4.29GWdc).
The study also examined European countries‘ cumulative solar PV capacity by 2030. Germany will lead in the continent with 215GW, while Italy and Spain will be ranked second (79.6GW) and third (79.3GW). France (47.6GW), Poland (46.3GW) and the Netherlands (45.7GW) will also be the other countries with significant installed solar PV capacity by 2030.
Theglobal solar PV industry had impressive growth in 2023, increasing the installed capacity from 252GWdc in 2022, representing a 76.2% year-on-year growth. China added 268GWdc or 216.9ac last year, 60.4% of the global installed capacity. The US added 35.2GWdc last year, followed by Brazil (16.9GWdc), Germany (14.1GWdc) and India (13.6GWdc).
BNEF: Global solar additions could reach 655GWdc in 2024
(PV-TECH: Simon Yuen)
The world could install up to 655GWdc of solar PV capacity this year, up from about 444GWdc in 2023, according to BloombergNEF’s (BNEF) 1Q 2024 Global PV Market Outlook.
The report offered multiple scenario about the installed global solar PV capacity, with the conservative and optimistic forecasts being 520GWdc and 655GWdc respectively. In the mid-scenario forecast for global PV installations, the world will install 574GWdc.
China will continue to dominate the installed capacity in 2024 (313.7GWdc), accounting for 54.7% of global solar PV capacity additions this year. China will be followed by the US (40.6GWdc), India (18.1GWdc), Brazil (17GWdc) and Germany (16.5GWdc).
Three European countries will ramp up their installed solar PV additions this year, including Spain (7.54GWdc), the Netherlands (5.52GWdc) and Italy (5.25GWdc). The remaining countries in the top ten list of installed solar PV additions are Japan (5.47GWdc) and South Africa (4.29GWdc).
The study also examined European countries‘ cumulative solar PV capacity by 2030. Germany will lead in the continent with 215GW, while Italy and Spain will be ranked second (79.6GW) and third (79.3GW). France (47.6GW), Poland (46.3GW) and the Netherlands (45.7GW) will also be the other countries with significant installed solar PV capacity by 2030.
Theglobal solar PV industry had impressive growth in 2023, increasing the installed capacity from 252GWdc in 2022, representing a 76.2% year-on-year growth. China added 268GWdc or 216.9ac last year, 60.4% of the global installed capacity. The US added 35.2GWdc last year, followed by Brazil (16.9GWdc), Germany (14.1GWdc) and India (13.6GWdc).