Featured in Lighting the way – 05-2024

High inventory, low prices, stiff competition

Global solar demand will continue to grow in 2024 with module demand likely to reach 492 GW to 538 GW. InfoLink predicts that demand growth will begin to slow. Amy Fang, a senior analyst at InfoLink, takes a look at module demand and supply chain inventories in a market still affected by oversupply.

By

pv magazine

10 May 2024

Some wafer producers planned to reduce output in April 2024 but vertically integrated manufacturers continue to scale production. | Photo: Longi

The Chinese solar market has witnessed rapid demand growth over the past two years. High PV module prices in 2022 hindered utility scale project deployment so small-scale, “distributed-generation” (DG) projects made up around 60% of the market. After supply chain issues eased, module prices started falling in 2023, driving utility scale projects that supplied 55% …

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