Photo voltaic PV Installations Will Attain Up To 660 Gigawatts In 2024

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Bernreuter Analysis: Low module value will gasoline demand within the second half of the yr

Würzburg, Germany — International photovoltaic (PV) installations will land in a spread of 600 to 660 gigawatts-direct present (GW_dc) in 2024, in accordance with the newest evaluation from polysilicon market professional Bernreuter Analysis. “As soon as market members come to the conclusion that the crash of the photo voltaic module value has reached its backside, demand will speed up,” says Johannes Bernreuter, Head of Bernreuter Analysis and creator of the Polysilicon Market Outlook 2027 report.

Prime 6 photo voltaic module suppliers purpose for 40% development charge

Bernreuter’s new forecast is supported by the cargo targets of the world’s high six photo voltaic module suppliers for 2024. On common, Jinko, Longi, Trina, JA Photo voltaic, Tongwei and Canadian Photo voltaic purpose for a development charge of 40%. Primarily based on international PV installations of 444 GW_dc in 2023, this charge would lead to a newly put in capability of 622 GW_dc in 2024.

“Even when the main gamers acquire market share as Tier-2 and Tier-3 producers wrestle within the present low-price atmosphere, it’s possible that new PV installations will exceed 600 GW_dc this yr,” says Bernreuter. After many of the high six suppliers remained behind their cargo targets in 2023, the analyst assumes that they’ve been extra cautious with their targets for 2024, which leaves room for upside potential.

Indicators on the availability aspect level to a spread of 630 GW_dc to 660 GW_dc

“On the availability aspect, all indicators level to the higher half of our forecast vary,” explains Bernreuter. “I’m optimistic that demand will catch up within the second half of the yr, fueled by the record-low module value degree.”

International PV installations of 630 GW_dc to 660 GW_dc would even high the excessive state of affairs of 620 GW_dc featured in Bernreuter’s Polysilicon Market Outlook 2027 report. “Our new evaluation confirms the extra aggressive forecast method we now have adopted within the report,” concludes Bernreuter. “With a market share of greater than 50%, China will proceed to drive international PV installations ahead.”

About Bernreuter Analysis — Bernreuter Analysis was based in 2008 by Johannes Bernreuter, one of the crucial respected photovoltaic journalists in Germany, to publish international polysilicon market reviews. As early as 2001, Bernreuter authored his first evaluation of an upcoming polysilicon bottleneck and new manufacturing processes. Since publishing its first report in 2010, Bernreuter Analysis has gained a fame for offering essentially the most complete and correct polysilicon reviews available on the market.

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Press launch from Bernreuter Analysis.