Solar Leads the Acceleration
November 13, 2023
Solar manufacturing has grown ten-fold over the last decade and the trend is set to continue at an elevated pace, according to the latest World Energy Outlook from the IEA.
Rapid supply chain expansion and a pipeline of future investments has solar positioned to lead acceleration to clean energy transitions around the world.
Today, five countries account for nearly 90% of global capacity with China leading the way with production capacity at more than 500 GW annually. In the lead with China are Vietnam, India, Malaysia and Thailand. The next four include the U.S., which accounts for about 1% of global trade.
Less than 40 countries have capacity to produce solar modules, but over 100 countries completed solar PV projects in 2022, relying on imported panels.