Annual global solar production capacity is set to surpass 700GW by 2025; double the 360GW reported at the end of last year.
That’s according to a report by Clean Energy Associates, which surveyed the thoughts and aims of some of the world’s leading solar suppliers.
The study revealed that already since the end of 2022 and start of 2023, an estimated 41GW of capacity have been added – taking production levels close to 400GW.
A large portion of this solar production was from Chinese companies, including BYD, LONGi and Jienergy.
The report states that outside of China, ingot capacity is set to grow from 5.6GW to 17.1GW, cell capacity from 48.3GW to 75.4GW and module capacity from 51.9GW to 76GW by 2025.