Commodity Market Report
Global solar PV market outlook update: Q3 2024
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Report summary
Bringing together our regional expertise in the Americas, Europe, Asia Pacific, the Middle East and Africa, this quarterly report breaks down how the key policy, supply chain, finance and other market developments from the past quarter will affect solar PV buildout across all segments in all territories in the next ten years. We estimate global solar PV cumulative capacity will reach 6.4 TWdc globally by 2033, which means total installed capacity will nearly quadruple in the next decade. China’s volumes over the next ten years will account for over half of global capacity. That is five times more than what the second largest global solar market, the US, will achieve in the next ten years, and ten times more than India, which will become the third-largest global solar market by 2033.
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