Firm foundations on shifting sands
Unprecedented capacity expansions and massive technology changes, all happening at a frantic pace, signal that PV is entering the terawatt era. However, challenges in supply and demand imbalances across the value chain, combined with emerging technical and quality risks, require detailed analysis and due diligence from buyers to avoid pitfalls, according to George Touloupas, Joseph Johnson, and Aditya Vardhan from Clean Energy Associates.
Module capacities vastly exceed the upstream stages of production and current annual demand, since module factories can be brought online faster, and with lower capex requirements, than cell, wafer, ingot, or polysilicon facilities. Major factories from Tier 1 players were completed and ramped to full production at the end of 2020, in anticipation of a …
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