Studies show that the global installed PV capacity may reach 350.6GW in 2023
Source:Solarbe | Author:business-005 | Published time: 2023-03-16 | 557 Views | Share:
In the period of 2021-2022, the COVID-19 pandemic continues to impact the photovoltaic supply chain, resulting in a high price level of photovoltaic modules due to the short supply of silicon materials, and the installation demand will be delayed until 2023. With the large-scale release of new silicon production capacity and the price of all links of the industrial chain returning to normal level, EnergyTrend estimates that the global PV installed demand will increase significantly in 2023, with the new installed demand reaching 351 GW, an annual increase of 53.4%. However, we still need to pay attention to the slowdown of global economic growth, high inflation and other problems, which may lead to less installed demand than expected.

     

 

TrendForce research shows that the installed PV demand in 2023 will be Asia-Pacific, Europe, America and Central and East Africa in order from high to low.


The Asia-Pacific region is expected to add 202.5GW of installed capacity in 2023, an annual increase of 55.4%. Among them, China, Malaysia, the Philippines and other markets promoted by policies have a fast growth rate of installed capacity, and the annual increase of installed capacity in the above regions can reach more than 40%. Japan, Australia, South Korea and other mature markets, the growth of installed capacity is stable.


In Europe, it is estimated that the installed PV capacity will be about 68.6GW in 2023, with an annual increase of 39.7%. The main installed demand will come from Germany, the Netherlands and Spain. Due to the continued high electricity price, various countries provide subsidies or tax rebates for PV and other policy support, together with the falling price of PV modules, the PV installed volume of European users will grow in 2023. In addition, due to the relaxation of licensing and approval times in the EU and the decline in PV module prices, the number of European surface power plant projects is expected to return to growth in 2023-2024.

 

In the Americas, about 64.6GW of new PV installations are expected in 2023, an annual increase of 65.2%. The installed machine demand is highly concentrated in the United States, Brazil, Chile and other places; Colombia, Canada in 2023 will also usher in the peak of the grid. Under the stimulus of the IRA act, the U.S. photovoltaic reserve project is sufficient, and the installed demand is expected to double. Brazil's Distributed policy will continue to drive the growth of Distributed PV systems, such as rooftop PV systems for residential and commercial use; Centralized PV, such as the large-scale surface power station, is expected to experience rapid growth again as the Brazilian government further opens up the centralized PV.

 

In Central and East Africa, the PV market shows steady growth, with the new PV installed capacity expected to reach 14.9 GW, an annual increase of about 49.5%. Installed capacity increment in Central and East Africa is highly dependent on tender projects, with large photovoltaic surface power station projects leading the market demand, with the United Arab Emirates, Saudi Arabia, South Africa and Israel as the major increment areas. The area is rich in light resources, and the capacity of the bidding projects to be built or under construction has exceeded 9GW at present. Coupled with favorable policies, there is huge space for development. It is expected that the bidding projects will usher in continuous growth in the future.