The new installed capacity of solar technology worldwide could reach 209 GW in 2021, according to the latest estimates of Bloomberg New Energy Finance.
In particular, in the first quarter report for 2021, the BNEF predicts that at least 160 GW of new power will be added in 2021, a number higher than the 141GW installed in 2020.
Below, analysts estimate 221 GW for 2022 and 240 GW for 2023.
Analyzing other aspects of the global photovoltaic market, the authors of the report concluded that the country with the highest development of this technology for 2021 will be India, which already counts significant additions last year, and China, which maintains its reins. race with the goal of zero emissions by 2060.
To meet the demand, massive extensions of polysilicon and silicon photovoltaics are planned, along with enhanced glass production.
Due to the “plenty of module capacity”, as it typically states, the BNEF estimates that prices will fall to $ 0.19 per watt for standard panels based on 166 mm wafer discs compared to the larger ones that have a higher price without trade duties.
As reported, there is enough silicon on the outskirts of Xiajiang to meet demand even if the US and Europe impose sanctions on products from the province.
Sanctions on silicon from China’s Xinjiang province could force suppliers to keep some of the product clean in order to supply US and European markets, slightly raising prices and favoring First Solar, which is the main supplier of photovoltaic panels that do not rely on silicon disks, concludes BNEF.