Hello and welcome to my solar blog where I share insights on everything solar. Today, I bring you significant updates coming directly from the Clean Energy Associates (CEA) on global solar supply chains, latest trends in solar technology, and how market impacts resulting from policy changes could influence solar companies in the near term.
First, we need to talk about the anticipated shift in global solar installations. Following a hefty 60% increase in 2023, the industry is bracing for a decline in 2024. The forecast tells us to expect a global demand ranging between 401 GW to 511 GW. This news may make some of you worried about the state of solar companies, but there’s a silver lining! While installation growth may simmer, supply is projected to maintain gains. From polysilicon manufacturing to cell and module production, significant new capacity is expected to come online.
However, for those of us eyeing solar panels for our homes in the U.S., it is crucial to remain aware of the multiple trade policies that could keep prices high. Concurrent removal of Section 201 tariff exemptions, apprehension initiated by a new investigation into anti-dumping/countervailing duties (AD/CVD), and continued enforcement of UFLPA, among other regulations, are contributing factors to these high prices. As a result, the case for in-country solar manufacturing continues to strengthen.
What’s more, the AD/CVD risk is no small thing, affecting approximately 75% of modules and 50% of cells imported from Cambodia, Malaysia, Thailand, and Vietnam. This could lead to a dearth of “risk-free supply” for the U.S market, prompting the idea of investing more heavily in local supplies.
Then we have the technological trends. In 2024, TOPCon solar modules are expected to dominate about 75% of global distribution. These represent an advancement in efficiency over the traditional silicon modules. However, like any new technology, even TOPCon has its potential risks that should be considered before adoption.
Amid these developments, another concerning trend this report highlights is the rising risk of hail damage for solar arrays installed on homes. As the industry trends toward larger, heavier modules with thinner and thinner glass, your solar array may become more vulnerable to hail impact. For context, hail damage is already responsible for 53% of insurance claims for solar assets in the U.S.
What can we take away from all of this? Whether you’re looking for a solar company to install a solar array for your home or you’re just keeping up with industry trends, it’s essential to stay informed. Market shifts, technology changes, and policy impacts all contribute to the constantly-evolving landscape of solar energy. I hope this post has provided you with some new insights to help you navigate this ever-changing solar sector. Remember, staying informed is the best way to make the most of your solar investment for long-term sustainability and resilience. Stay tuned for more updates!
Original Articlehttps://pv-magazine-usa.com/2024/07/11/solar-supply-chain-technology-trends-and-policy-update/
