Solar inverter producer SolarEdge's revenue in the third quarter of 2023 is expected to be about 20% lower than consensus due to cancellations and pushouts of existing backlog from European distributors.
With multiple European countries submitting their revised National Energy and Climate Plans (NECPs) in recent months, the European Union (EU) is targeting an extra 90GW of solar capacity by 2030.
China’s solar exports have continued to grow as demand from global consumers and developers increased, while its dominance in PV manufacturing will likely continue, according to Wood Mackenzie’s recent study.
The rapid scale-up of solar capacity in the European Union drove the growth of renewable electricity generation, which overtook that of fossil fuels for the first time last year.
