The Development and Forecast of Solar PV

As we know from the IEA.’s report of renewable solar PV, from 1990 to 2018, the solar PV electricity generation on the world under rapid development especially during 2008 to now. We can also easily to know that the development of solar PV in China, USA, European Union, India, Latin American,MENA,Sub-saharan Africa, ASEAN, APAC and other countries. Obviously, the demand in China, European union,India,ASEAN become huger and huger.

Global annual solar PV additions are expected to accelerate during 2023-2025, owing to faster recovery of distributed PV applications as the global economy improves. Outside of government support schemes, market drivers such as corporate PPAs and bilateral contracts are forecast to support PV expansion globally. Potential in the ASEAN region remains largely untapped due to administrative and regulatory challenges, while the lack of policy certainty and infrastructure is hampering regional growth. 

Global PV expansion after 2022 is expected to accelerate even more quickly, owing to continuous policy support and cost reductions. The distributed PV segment resumes growth during 2023-25 as global economic recovery supports faster adoption of commercial and residential systems. The higher potential for total PV in the accelerated case compared with the main case is significant, with the possibility of annual capacity additions averaging almost 165 GW during 2023 to 2025.

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