2022 Global Solar PV Industry Analysis

2022 is a year with great potential for photovoltaic development. The latest research report of TrendForce shows that due to the impact of the overseas epidemic in 2021, under the condition of high prices in the photovoltaic industry chain, the demand for installed capacity has not been fully released, the growth rate has slowed down, and the rush to install in Q4 was expected to be less than in previous years; This year the price of raw materials has dropped from the peak, and the supply and demand level will gradually return to a healthy level. In line with the carbon reduction needs of various countries, the terminal installed capacity will be further driven. According to the forecast of the InfoLink global photovoltaic market supply and demand database, there will be 214-234GW of modules demand in 2022, and the GW-level market will reach 26. Among them, the top five countries in terms of installed capacity demand are China, the United States, India, Brazil, and Australia, accounting for about 60% of global demand.

Looking at the reasons for the booming photovoltaic demand in 2022, the main growth is still from the Chinese market. China is expected to add 75GW this year, an increase of 56% compared to last year. The main support comes from a number of favorable policies issued by the Chinese government in 2021, which shows the government's determination to "peak carbon and neutralize carbon".

In the Asia-Pacific region, with the largest contribution of newly installed capacity, the demand for photovoltaics will grow steadily. India, Vietnam, and Australia are the main incremental markets; The photovoltaic market in the Americas is highly concentrated, and North America is dominated by the United States, which is expected to have an average annual installed capacity of 30GW in the next five years.

Forecast of new installed photovoltaics capacity in the United States in 2022 (unit: GW)

Latin America is dominated by Brazil, Chile and Mexico, accounting for 90% of the market. Among them, the continuation of the distributed policy in Brazil will continue to drive the continued growth of the distributed market in 2022.

The markets in the Middle East and Africa have huge potential for incremental space. The installed capacity is mainly ground power plants and industrial and commercial solar projects. The market financing conditions and large-scale project scale advantages are obvious. The market advancement depends on the impact of the epidemic and government regulatory approvals. European market demand remains strong, with nine GW-scale markets, accounting for 73% of the overall European market share.

Forecast of new installed PV capacity in Europe in 2022 (unit: GW)

At present, green and low-carbon development has become a global consensus. According to the Energy & Climate Intelligence Unit (ECIU) statistics, as of October 2021, 132 countries and regions around the world have proposed carbon neutrality goals. Among them, Suriname and Bhutan have achieved carbon neutrality, 13 countries including Germany have enacted carbon neutrality legislation, the EU and 3 other countries have proposed legislation, and 53 countries have officially announced the timing of carbon neutrality. Photovoltaic power generation is highly competitive and is the main force to achieve carbon neutrality.

Nowadays, the influence and social attention of the photovoltaic industry is rapidly increasing, with the strong support of national policies and the active deployment of photovoltaics in various fields. We are at the forefront of the development of the energy era. Power Stone believes that in 2022, we will achieve even better results.