2022 saw the solar PV market enter a ‘new growth dimension’, where 239GW of solar capacity was added across the world representing two thirds of all new renewables capacity.
The US solar industry had the most growth of any quarter in its history in Q1 2023, as delayed projects from 2022 came online and supply chain constraints showed signs of loosening.
Renewables developer Oracle Power PLC has signed a cooperation agreement with Chinese state-owned energy company PowerChina to jointly develop a 1GW solar PV project in Pakistan.
India added 12.8GW of solar PV in the FY2023, an 8% decrease year-on-year according to JMK Research. 2022 saw the country experience significant module shortages as it strains to build out its domestic manufacturing profile and lessen its dependence on imports from the east.