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What is the global market outlook for solar power 2024-2028?

Welcome to the Global Market Outlook for Solar Power 2024-2028. For an established sector like solar, approaching double growth in one year was simply not part of any analyst’s script. But it happened in 2023. The world deployed 447 GW of new solar PV capacity last year; an incredible 87% more than

What are emerging photovoltaic materials & technologies?

Emerging photovoltaic materials and technologies are significantly impacting the traditional photovoltaic industry. Emerging solar cells, exemplified by perovskites, are thinner and lighter and highly flexible.

How accurate is the global market outlook for solar power?

The accuracy and value of the annual Global Market Outlook for Solar Power would not be possible without the industry stakeholders and all national and regional solar industry associations that provide their input and expertise each year.

How will emerging photovoltaic materials and technologies impact the PV industry?

The advance of emerging photovoltaic materials and technologies has the potential to invigorate the PV industry by reducing costs, improving efficiency, and fostering sustainable development.

What is the demand outlook for 2035?

Looking ahead, the demand outlook through 2035 appears robust across all scenarios. Primary drivers of this growth include population growth and the development of the middle class as well as the deployment of low-carbon technologies—with energy transition materials driving more than half of growth.

Will China's solar market grow in 2024?

For 2024, our Medium Scenario forecasts a global growth rate of 22% to a market size of 544 GW, approximately 100 GW more than in 2023 (see Fig. 4). As we’ve seen in recent years, current global market forecasting will depend largely on getting China’s solar deployment right due to its outstanding position in the global PV landscape.