How has solar power changed over time?

Both are measured on logarithmic scales, and the trend follows a straight line. That means the fall in cost has been exponential. Costs have fallen by around 20% every time the global cumulative capacity doubles. Over four decades, solar power has transformed from one of the most expensive electricity sources to the cheapest in many countries.

Did the solar-power industry fly too close to the Sun?

To take it from recent headlines, it seems as though the global solar-power industry, following half a decade of record growth and governmental investment, flew just a bit too close to the sun.

Is the solar sector still booming?

On a wider scale, the solar sector is still ballooning and providing record amounts of green energy worldwide. Despite its manufacturing woes, Germany’s nationwide solar installation through 2023 beat expectations. Greece is well on the way to tripling its solar capacity by the end of the decade.

Why is the global PV manufacturing capacity reducing in 2024?

Since the first quarter of 2024, however, there has been a noticeable decrease in the utilization rates of global PV manufacturing capacity. Lower utilization is attributed to limited demand growth and high inventory levels, leading to a market surplus.

Is China's solar installation growth slowing down?

Moreover, China’s solar installation growth is slowing down, posing a threat to the annual module shipment guidance issued by leading suppliers under the current demand scenarios managed by S&P Global Commodity Insights. China’s dominance in PV manufacturing is likely facing its most severe downturn to date.

Will the solar industry continue to grow?

A significant portion of the increase came from China, which deployed around 250 GWdc of solar. Overall, analysts expect the industry to continue to grow, however the range of near-term growth projections is substantial. Notes: E = estimate; P = projection.