Global PV installations will vary from 600 GW to 660 GW by 2024, in response to Bernreuter Research.

Bernreuter mentioned its forecast is supported by the cargo targets of the world’s six largest photo voltaic module suppliers for 2024. On common, JinkoSolar, Longi, Trina, JA Solar, Tongwei, and Canadian Solar intention for the expansion charge of 40%, which, primarily based on international photo voltaic installations of 444 GW in 2023, will lead to 622 GW of newly put in capability in 2024.

“Even if the main gamers achieve market share whereas tier-2 and tier-3 producers battle within the present low value atmosphere, it’s probably that new PV installations will exceed 600 GW (DC) this yr,” Bernreuter mentioned.

Bernreuter’s newest report, “Polysilicon Market Outlook 2027“because the low value of the module will improve the demand within the second half of the yr. “When the market individuals conclude that the crash of the photo voltaic module value has reached its backside, the demand will intensify,” defined Johannes Bernreuter, head of Bernreuter Research.

Global photo voltaic installations of 630 GW to 660 GW will exceed the report’s excessive state of affairs of 620 GW. The report additionally famous that China, with a market share of greater than 50%, will proceed to drive PV installations globally.

“Our new evaluation confirms the extra aggressive forecasting strategy we adopted within the report,” Bernreuter mentioned.

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