Solar power is a crucial element of the energy transition. According to the International Energy Agency (IEA) solar is on track to set a record for new global deployments from 2022. It is on its way to becoming the leading renewable energy due to its rapid development in recent years and the continuing reduction in the cost of its deployment and LCoE. Maintaining focus on the details is critical to keeping pace with this change without negatively impacting product quality or customer satisfaction.
Despite several challenges during the last couple of years, including COVID-19 lockdowns, supply chain and logistics issues, the solar PV market showed resilience and continued to grow. In 2021, PV systems with a combined capacity of 168 GW were installed globally, almost 30 GW more than in 2020.
2022 is expected to be another bumper year in terms of PV installations. Taking into account the renewed focus within Europe to transition towards renewable energies under the REPowerEU plan and strong growth expected in the United States, China and other global markets.
