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% 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?

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