Snapshot of Global PV Markets 2024
April 2024
The global PV cumulative capacity grew to 1.6 TW in 2023, up from 1.2 TW in 2022, with from 407.3 GW to 446 GW[1] of new PV systems commissioned – and in the order of an estimated 150 GW of modules in inventories across the world. After several years of tension on material and transport costs, module prices plummeted in a massively over-supplied market, maintaining the competitivity of PV even as electricity prices decreased after historical peaks in 2022.
You can download the Snapshot through IEA PVP's website here.
Trends in PV Applications 2023 Report
October 2023
For the 28th consecutive year, the IEA-PVPS Trends report is now available. This document provides the most comprehensive global overview of the development of the Photovoltaics sector, covering policies, drivers, technologies, statistics and industry analysis.
You can download the Trends 2023 through IEA PVP's website here.
Building Resilient Solar PV Supply Chains Report
June 2023
The main takeaways from this report are:
- Solar PV is becoming fast an essential piece of the energy landscape, with a huge political demand for local manufacturing, technology development and job creation.
- Synergies between Europe, India, the USA and emerging countries could accelerate the development of the industry in these regions.
- Economies of scale, vertical integration, technology improvements (especially the reduction of costly and scarce materials), together with the access to low carbon energy are key to reducing production costs.
The Becquerel Institute & International Solar Alliance report is available here.
Solarize Africa Market Report 2023
June 2023
This third report focusses on off-grid applications and combinations of solar energy and water – and the various other applications of PV, which are increasingly being put to use in African PV markets. In the report local experts from various African countries have their say, giving insights into their countries’ PV markets.
You can download the report through Intersolar's link here.
Snapshot of Global PV Markets 2023
April 2023
The global PV base once again grew significantly in 2022, reaching 1 185 GW (≈ 1,2 TW) of cumulative capacity according to preliminary market data, both despite and because of post-covid prices hikes and European geo-political strife. With 240 GW of new systems installed and commissioned, and nearly a dozen countries with penetration rates over 10%, (and Spain, Greece and Chile over 17%), PV has demonstrated that it is a serious, major, long-term contributor to cost competitive electricity generation and emissions reductions of the energy sector.
You can download the Snapshot through IEA PVP's website here.
All-Round Competitiveness Despite the Supply Crisis
February 2023
The rapid decline in solar PV costs over the last decade, despite the recent cyclical price increase, allows PV systems to produce electricity at a competitive cost in most European countries, and all market segments. To read more about our work on ground-mounted PV plants and distributed rooftop PV systems in a residential case and a C&I case, you can download our article below.
Trends in PV Applications 2022 Report
November 2022
« In 2022, photovoltaic technology strengthened its position as a key source of affordable, local, and low-carbon energy. In the context of geopolitical tensions and resource scarcity, PV could become a stabilization element, promoting peace through reduced tensions in energy markets while accelerating the economic development across the world »
You can read the Report through IEA PVPS's link here.
Competitiveness Perspectives for Vertically Integrated Local PV Manufacturing Until 2025
September 2022
The pandemic and other global events caused logistics and raw material price hikes, significantly increasing PV module costs to around 0.30 US$/Wp. This disruption, however, presents opportunities for local manufacturing to compete with large-scale production in Asia. This study estimates the factory gate cost of PV module manufacturing in France, Morocco, and South Africa, showing that while costs remain 20% higher than China’s, competitiveness could be achieved by addressing factors like economies of scale, cell efficiency, and electricity costs, with the support of public authorities.
A Solar PV Profitability Study as a Function of Wholesale Market Price Variation Patterns
September 2022
This study analyzes how evolving electricity price patterns—driven by factors like higher PV penetration and electrification—could impact the profitability of such systems. Results evaluate the Net Present Value (NPV) of a 50 MWp PV system under different price scenarios and business models. Non-incentivized utility-scale PV systems, relying on selling electricity on the wholesale spot market, are gaining traction, with 17% of the global market in 2021.
How to Make a Solar PV-Based Energy Community Economically Attractive in Belgium?
September 2022
The concept of energy communities has gained popularity as a way to empower citizens and involve them in renewable energy deployment, but its growth is limited by regulatory and knowledge barriers. Research from the R2EC project in Flobecq, Wallonia, highlights the need for regulatory adjustments to make energy communities economically viable. Peer-to-peer energy exchange, while promising, is not optimal under the current local regulations.
This paper was published during WCPEC-8, it can also be found here.