The International Energy Agency (IEA) says global production capacity for solar cells and modules will grow by about 550 GW by 2023. It reports that about 80% of the global PV manufacturing industry is currently concentrated in China, with India and the United States each having a 5% share. Europe accounts for only 1%.
According to figures from the IEA, the global solar cell and module manufacturing industry is currently operating at a capacity utilization rate of approximately 50%. Promotion of clean technological production report. It said global investment in new solar plants alone would reach $80 billion in 2023, which is twice as much as in 2022.
China’s solar industry accounted for about 95% of global investments in wafer production capacity, 96% of investments in polysilicon production facilities and 83% of module factories last year. The IEA said about 440 GW of the 500 GW of total cell and module capacity was deployed around the world last year.
“Existing production capacity for solar PV modules and cells today could reach what is needed to meet demand under the NZE scenario in 2030 – six years ahead of schedule, with only modest gaps for upstream steps of wafer and polysilicon production,” the report said. noted. “While the sharp increase in supply has driven down module prices, supporting broader consumer acceptance, solar panel inventories are growing and there are signs of downscaling and postponement of planned capacity expansions, especially in China. ”
The agency said about 80% of the world’s PV manufacturing industry is currently concentrated in China, with India and the United States accounting for 5% each and Europe just 1%.
“The high geographic concentration of the entire solar supply chain is unlikely to change significantly based on announced projects, with China’s capacity share declining marginally for modules, cells and wafers and increasing for polysilicon, reaching almost 95% by 2030 % reach. ,” the IEA said.
It also presented data on levelized production costs, initial and operational costs, as well as national incentives for production. It said a 56 GW solar module factory under construction by JinkoSolar in China’s Shanxi Comprehensive Reform Demonstration Zone is cheaper than national averages.
“While the estimates are not outcome costs, the facility is expected to generate $7.8 billion, or $140/kW for full-chain solar production, compared to our national average of $185/kW for China ,” the IEA said.
The report also includes data on global wind energy, electrolyzer production and heat pump production.
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