The solar photovoltaic (PV) industry presented another record year in 2022, reaching worldwide annual installations of 268 GWp. This substantially exceeded the 180 GWp of installations in the preceding year. According to preliminary estimates for 2023, the global installations of solar PV are to reach 350GW over the year, which is about 1GW new capacity per day.
Expectations for 2022 had originally been for annual installations to top 200 GWp, with a total investment in PV to top 170 billion USD according to IHS Markit. Solar PV will continued to significantly surpass installations by other competing electricity generation technologies including both conventional coal and gas, as well as renewable wind and hydro.
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