International Energy Agency, delivered a speech entitled "Global Photovoltaic Industry Development Trends and China's Important Role" at the 2023 Annual Conference of the Photovoltaic Industry on December 15. The important factor is the oversupply.
He said, We expect all renewable resources to add 500GW of installed capacity this year (globally), of which two-thirds of the growth is expected to come from photovoltaics. In 2023, we expect China to promote the development of most photovoltaic manufacturing capacity, accounting for more than 90% of all new manufacturing capacity. To double the production capacity of modules, cells, wafers and polysilicon within a year, but it should be noted that the global supply growth is much faster than demand. In this case, the demand growth does not match the supply growth, which may lead to oversupply in the near future, which will lead to the reduction of capacity utilization by photovoltaic manufacturers.
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