>The global 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).
Their prediction for 2024, now ranges from a YoY growth between 17% (520 GW) and 47% (655 GW). Another year of growth by 47% would be pretty impressive. The longer term trend since 2016 seems to be around 25% YoY growth.
If there’ll be indeed more than 600 GW added this year, that puts global installations over the 2 TW mark, a doubling in just 2 years.
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On last year:
>The global 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).
Their prediction for 2024, now ranges from a YoY growth between 17% (520 GW) and 47% (655 GW). Another year of growth by 47% would be pretty impressive. The longer term trend since 2016 seems to be around 25% YoY growth.
If there’ll be indeed more than 600 GW added this year, that puts global installations over the 2 TW mark, a doubling in just 2 years.