PV Technologies and Solar Panel Supply Chain
June 14, 2023
Solar panel supply chain, by region, for both demand and manufacturing capacity. Additional illustration showing the main steps in the process of making solar panels.
China dominates every stage of the solar panel industry accounting for almost 80% of all Polysilicon manufacturing and 75% of solar photovoltaic modules. When comparing manufacturing capacity to demand, there is a clear imbalance on a country-by-country basis.
Solar Power Generation Capacity 2010-2022
June 14, 2023
Total global solar power generation capacity (GW) for 2010-2022. Additional charts showing the 2022 market share by country and illustrative map showing cumulative capacity by country.
Capacity has been increasing year-over-year from just 6 GW in 2008 to almost 1200 GW in 2022 with about 70% being installed over the last 6 years and a 20% growth rate over the past 2 years.
Solar Power Generation 2010-2022
June 14, 2023
Total global solar power generation (TWh) for 2010-2022. Additional charts showing the 2022 market share by country and illustrative map showing cumulative generation by country.
The cumulative global solar generation increased from just 32 TWh in 2010 to 1250 TWh in 2022. Solar generation has grown over 20% annually since 2020 increasing from 180 TWh to 245 TWh.
Largest Solar Projects 2022
June 14, 2023
Six of the largest solar projects under construction by country in 2022 (GW). Additional map illustrating capacity by country.
In total, the capacity of the six projects is 9 GW and comes with a total investment of USD $7 billion – led by India which accounts for almost a third of the total investment.
Lithium-ion Battery Price Dynamics and Forecast
June 15, 2023
Lithium-ion batteries are used for energy storage, including solar energy. Historical and forecast price (USD/kWh) for lithium-ion battery packs for 2013-2026.
Average lithium-ion battery pack prices have been declining rapidly; down from over $700 USD/kWh in 2013 to just $140 in 2021. However, rising raw material and battery component prices, coupled with soaring inflation, led to the first ever year-over-year increase in lithium-ion battery pack prices in 2022, up 7% to about $150.
Solar Power Capacity Forecast 2022-2030
June 15, 2023
Forecast of solar power capacity (GW) to 2030 by country. Additional charts showing the 2030 market share by country and map illustrating capacity by country.
Incorrys expects solar capacity to more than triple from about 1200 GW in 2022 to 3800 GW in 2030. China accounts for the most capacity in all years increasing from 400 GW in 2022 to 1000 GW in 2030.
Solar Power Generation Forecast 2022-2030
June 15, 2023
Solar power generation forecast (TWh) to 2030 by country. Additional chart shows the 2030 market share by country.
Global electricity demand declined slightly in 2021 due to the Covid pandemic. It has rebounded slowly into 2023 and the growth is expected to accelerate going forward, primarily driven by renewables. Incorrys forecasts solar generation to increase from 1250 TWh in 2022 to 7200 TWh in 2030 and will account for 24% of global electric generation.