According to the latest edition of the Global Market Outlook for Solar Power, the solar energy industry experienced exceptional growth in 2023, exceeding all expectations. With 447 GW of new installed capacity, solar continues to dominate the global energy transition, accounting for 78 percent of new global capacity additions. How has solar grown so fast, and which regions and technologies have contributed to this boom?

What policies are needed to sustain this growth, and how can investment be equitably distributed around the world? We talk about this in the latest episode with Christophe Lits, market analyst at SolarPower Europe.

Timeline:

• 03:07 The Global Market Outlook shows that 447 GW of new solar capacity was installed worldwide in 2023. What were the main factors behind this impressive growth?
• 08:28 What are the consequences of the strong concentration of the solar market in China, in terms of installations and production capacity?
• 09:51 How will the solar market develop in the USA, where modules cost 2-3 times as much due to tariffs and remuneration models such as net metering are now being scaled back?
• 12:22 What technological innovations have contributed to the rapid expansion of solar energy?
• 15:33 The IEA reported that investment in solar energy has outpaced all other generation technologies. What are the main reasons for this investment boom?

About The smarter E Podcast

The smarter E podcast is all about the current trends and developments in a renewable, decentralized and digital energy industry. Our moderators Tobias Bücklein and Zackes Brustik welcome and interview personalities who shape our industry and drive developments forward. A new episode is published every Thursday.

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About Christophe Lits and SolarPower Europe

Christophe supports the Market Intelligence departement in delivering high-quality market reports. He also monitors the development of EU and national policies related to solar energy as well as associated market trends to produce quantitative and qualitative research on the sector. Prior to SolarPower Europe, Christophe was an Audit Intern at Accountancy Europe. He holds a Bachelor’s in political science, Université Saint-Louis Bruxelles and a Bachelor’s in economics and management, Université Saint-Louis Bruxelles as well as a Master in economics, Université Catholique de Louvain. Christophe speaks Dutch, French and English.

SolarPower Europe is the award-winning link between policymakers and the solar PV value chain with the mission of ensuring solar becomes Europe's leading energy source by 2030.

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