wood mackenzie

The growth of global annual solar PV installations will start to slow this year, including the US, according to Woodmac.

According to Syliva Levya Martinez, principal analyst of North American utility-scale solar at Wood Mackenzie: “These are not the last of these types of transactions we’re going to see”.

The US solar industry has registered its best third quarter with 6.5GW of PV installed in Q3 2023, however residential started to show a slowdown in certain states.

China is on track to install a record 230GW of new solar and wind capacity this year, according to a report from Wood Mackenzie.

In October, Turkish energy minister Alparslan Bayraktar said Turkey will need to install 5GW of solar and wind capacity every year until 2035, as renewables have great potential to meet the 2035 target of ‘supplying reliable and affordable energy in an environmentally friendly manner’.

China will account for 95% of the announced global n-type cell capacity in 2026, while the solar market is switching its focus to n-type cells

The Asia Pacific (APAC) region is expected to invest US$3.3 trillion in power generation over the next decade, of which a quarter for solar alone, according to energy research company Wood Mackenzie.

At least US$2.7 trillion must be invested in renewables annually to achieve global net-zero emissions by 2050.

The SEIA and Wood Mackenzie have released their latest report into US solar, and expect the industry to add 32GW of new capacity this year.

Although the floating solar market is expanding, the top 10 countries that will have more than 500MW of cumulative floating solar installations by 2031 are entirely from Asia.