Looking ahead to the PV industry in 2024

"Half sea, half fire." Zhong Baoshen, chairman of Longi Green Energy, a photovoltaic leader, used this to describe the photovoltaic industry in 2023.

In 2023, the new installed capacity of photovoltaic will increase significantly. However, at the same time, affected by multiple factors such as capacity expansion, continuous decline in product prices in the industrial chain, and technological iteration, competition in the photovoltaic industry has intensified.

For 2024, many industry insiders said in an interview with a reporter from Securities Daily that the scale of new installed capacity throughout the year is expected to maintain a high growth rate, but it will slow down compared with 2023; Photovoltaic product prices or continued low operation, industry competition intensified; Technology iteration is accelerating, and only new technologies and new products can enter a new prosperity cycle.

According to the National Energy Administration data, China's new photovoltaic installed capacity in the first 11 months of 2023 was 163.88GW, an increase of 149.4%. The neutral forecast for global PV new installations in 2024 is 474GW, an increase of 16% year-on-year, which is significantly slower than the 59% growth rate in 2023.

Talking about the expected slowdown in the growth rate of photovoltaic installed capacity in 2024, Wanlian Securities investment adviser Qu Fang told the Securities Daily reporter that it is mainly affected by factors such as grid connection, land use and policies. Among them, distributed photovoltaic is affected by problems such as grid-connection, and the space for large-scale promotion is restricted, while centralized photovoltaic is affected by land, environment and other factors.

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