Solar module prices hit 2-year low

The US National Renewable Energy Laboratory (NREL) has published a new report focusing on core benchmarks for PV prices, deployment, and imports.

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From pv magazine USA

NREL says in a new report that there is strong global demand for PV. China remains the frontrunner for solar deployment, growing its installations by 57% year on year in 2022, representing 42% of global demand. Most of China’s installations are smaller distributed projects, rather than large, centralized utility-scale projects, said the International Energy Agency. NREL says analysts expect global installations to reach 300 GW this year and 400 GW by 2025.

In the United States, PV represented about 46% of new electricity generation capacity additions in 2022. Yet solar has a long way to grow to play its part as a core technology in the energy transition. PV represents 9% of net summer capacity and 4.7% of annual generation in 2022, said NREL.

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California has made the longest strides in solar, with 27.3% of its electricity generation being sourced from solar. Solar has at least a 5% share in the generation mix in 16 states as of the end of 2022.

pv magazine print edition

The latest issue of pv magazine celebrates China’s journey from solar new entrant to the installation of more than 100 GW(AC) of panels this year – Vincent Shaw and Frank Haugwitz consider a remarkable 20-year journey. We take a look at what Indonesia needs to achieve its net-zero ambition and also explore the stirrings of a solar renaissance in Europe, via buzzing trade shows and gigafatory planning.

Image: National Renewable Energy Laboratory

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