In 2023, the solar photovoltaic (PV) industry achieved unprecedented milestones, with final figures revealing global installations of 444 GW, surpassing all expectations. This remarkable growth, representing an addition of over 7 million PV systems worldwide, highlights the increasing adoption of solar PV technologies. Furthermore, the total number of PV systems worldwide is now in the tens of millions, expected to reach 100 million towards the end of the decade.
Looking back one year, the solar photovoltaic (PV) industry went through a rapid griwth also in in 2022, achieving a worldwide annual installation rate of 268 GWp. This marked a substantial increase from the 180 GWp installed in the previous year of 2021. Preliminary estimates for 2023 suggested further growth, with global installations of solar PV reaching an estimated 350 GW throughout the year, equivalent to approximately 1 GW of new capacity added each day. As mentioned above, the expection was greatly surpassed.
Looking ahead, the industry is poised for continued expansion through this decade. In 2024, an anticipated installation of 574 MW according to Bloomberg NEF further underscores the ongoing growth and investment in solar PV deployment. This would bring online an additional quantity of some 10 million grid-connected PV systems.
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