Global solar PV market outlook update: Q1 2023 Report

Commodity Market Report 17 March 2023

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Report summary

This quarterly report provides insight into major developments for the global solar landscape, offering an assessment of the trajectory and key trends in the global market and providing scenario-based demand forecasts, insights on project pipelines, financing conditions, and supply-chain dynamics at the regional and country level. The analysis spans across market segments - residential, commercial, industrial and utility-scale - and includes deep-dive analyses on each regional market. Our Q1 2023 update presents an analysis of global and regional solar power installation forecasts through 2032. Wood Mackenzie forecasts global solar PV installations will grow at an annual average of 6% from 2022 to 2032, with annual capacity to total 251 GWdc in 2023 and 350 GWdc in 2032.