Solar module installations could hit 592 GW in 2024
- Admin
- Sep 6, 2024
- 1 min read
The global solar industry is experiencing growth with an expected 33% increase in module installations this year. BloombergNEF reports low module prices are driving demand in new markets while impacting manufacturers' market share. Notable developments are observed in Pakistan, Saudi Arabia, India, Japan, and South Africa. Despite challenges, solar markets are steadily growing with a forecasted installation of 996 GW by 2035. The report also notes a reduction in polysilicon production due to oversupply and declining prices. This has led to manufacturers implementing measures to reduce production output. Prices for polysilicon and modules are below production costs, causing losses for manufacturers. The industry is facing systemic overcapacity, resulting in continued price declines and financial challenges for manufacturers.
Source:
Want to read more?
Subscribe to vitaliydaviy.wixsite.com to keep reading this exclusive post.
