Solar inverter production expansion

How has global solar PV manufacturing capacity changed over the last decade?

Global solar PV manufacturing capacity has increasingly moved from Europe, Japan and the United States to China over the last decade. China has invested over USD 50 billion in new PV supply capacity – ten times more than Europe − and created more than 300 000 manufacturing jobs across the solar PV value chain since 2011.

Will global solar PV installation growth continue?

The key global positive of this is that global solar PV installation growth will continue to surprise on the upside, stimulated by both the fact solar PV is now the lowest cost source of new energy capacity and the massive value enhancement that solar plus BESS now offers.

Why is solar PV causing a global cost deflation?

This disruption is driven by the scale of China's strategic investment into solar PV technology deployment and manufacturing, resulting in significant ongoing cost deflation globally. Solar PV is increasingly undermining the business case for fossil fuel extraction and consumption.

How can the solar PV industry support growing demand?

Annual investment levels need to double throughout the supply chain. Critical sectors such as polysilicon, ingots and wafers would attract the majority of investment to support growing demand. The solar PV industry could create 1 300 manufacturing jobs for each gigawatt of production capacity.