Renewables manufacturing was 4% of 2023 GDP growth

The Advancing Clean Technology Manufacturing report highlighted a significant increase in global investment in PV manufacturing in 2023, led by solar PV expansions which accounted for 4% of global GDP growth. China remained a dominant player in PV manufacturing but saw a slight decrease in its global share of new investment. The report indicated that production capacity for solar PV manufacturing could meet demand by 2030. Despite China's dominance, the US and Europe were identified as key countries for new investment in manufacturing projects. Oversupply in the PV supply chain and low manufacturing capacity utilization rates were noted concerns. The report emphasized key drivers for new investments, including market size, skilled workforce, infrastructure readiness, and regulatory regimes.

Source:

https://www.pv-tech.org/renewables-manufacturing-was-4-of-2023-gdp-growth/

Want to read more?

Subscribe to vitaliydaviy.wixsite.com to keep reading this exclusive post.

Subscribe Now