Blue panel shining on Blue Ocean, as Chinese solar PV go global, China Economic Net (CEN) reported on Thursday. According to CEN, “The winning bid price of domestic photovoltaic modules dropped by more than 40% at the end of 2023 compared with the beginning of the year, falling below 1 yuan/W,” on February 28, the China Photovoltaic Industry Association announced this data at the Photovoltaic Industry 2023 Development Retrospect and 2024 Situation Prospect Seminar hosted by the CPIA.
Is the global PV market already facing overheating or even saturation? “In 2024, global newly installed PV capacity is expected to grow by about 29%. Meanwhile, according to our estimates, the number of markets with newly installed PV capacity exceeding 1GW in 2024 is expected to be 37,” Tan Youru, Solar Analyst at Bloomberg NEF, made bold prediction. “As for China, according to Bloomberg NEF estimates, the new installed capacity in 2024 could be reach 255GW (AC side) or 314GW (DC side). It’s too early to talk about saturation.”—CNN
