Trends in photovoltaic applications

What is the development of the photovoltaics sector?

This document provides the most comprehensive global overview of the development of the Photovoltaics sector, covering policies, drivers, technologies, statistics and industry analysis. · Global PV Installations: A record-breaking 456 GW of photovoltaic capacity was installed globally in 2023.

What's happening in the photovoltaics industry?

This document provides the most comprehensive global overview of the development of the Photovoltaics sector, covering policies, drivers, technologies, statistics and industry analysis. The market grew again to 174 GW in 2021 and even more was installed in 2022 despite the second year pandemic and despite the end-of-year disruptions in Asia.

How many GW of photovoltaic installations are there in the world?

As a result of sustained investment and continual innovation in technology, project financing, and execution, over 100 MW of new photovoltaic (PV) installation is being added to global installed capacity every day since 2013 , which resulted in the present global installed capacity of approximately 655 GW (refer Fig. 1) .

How can PV technology accelerate the energy transition?

The cost reduction evolution of PV technology enabled a larger and more sustainable market uptake. Nonetheless, national integrated energy and climate plans and international collaboration are required to accelerate the energy transition and to reach less accessible markets segments for instance.

How efficient are crystalline silicon photovoltaic cells?

The efficiency of crystalline silicon photovoltaic cells had reached the threshold of 25% about two decades ago, on a laboratory scale. Despite all the technological advances since then, currently, the peak efficiency increased very marginally to the level of 26.6%.