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Photovoltaic 2023: still record, towards 270 new global GW

Photovoltaics 2023 will grow by 33% compared to 2022

(sustainabilityenvironment.com) – This year the photovoltaic could close with 270 new GW of DC connections worldwide, 33% more than last year. And if the diffusion of solar energy is always driven by China, development also affects the rest of the globe. All regions, in fact, should mark their record of new installations. These are the photovoltaic 2023 estimates provided by Wood Mackenzie.

Photovoltaics 2023, lights and shadows for Europe

The forecast for Europe remains positive but, warns Wood Mackenzie, the increase will not be comparable to the 2022 boom. Domestic and industrial electricity consumption fell more than expected in early 2023. “Solar installations in the first quarter of 2023 have not yet reflected this, but in combination with inflation and interest rate increases, we expect growth to be much lower than the staggering growth observed last year year”, claim the authors of the report. A special mention goes to Romania, which leads the European ranking for distributed photovoltaics and should reach 6.5 GW of cumulative capacity in 2027, also driven by the expected doubling of growth for this year.

Read also Germany’s photovoltaic strategy targets 215 GW solar to 2030

China will continue its growth curve with no real rivals in the short term. But in the medium term, that is within this decade, the United States also thanks to the Inflation Reduction Act will begin to gnaw its share of new installed photovoltaic capacity significantly. Beijing will lose 30% of its current share.

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