Photovoltaic inverter industry development plan

How can industrial policies support solar PV industry development?

Similarly, sound industrial policies that build upon domestic supply chains can enable income and employment growth by leveraging existing economic activities in support of solar PV industry development. UNLEASHING THE MASSIVE POTENTIAL OF SOLAR PV IS CRUCIAL TO ACHIEVE CLIMATE TARGETS.

Where is the photovoltaic (PV) market developing?

Figure 7. The photovoltaic (PV) market development in China, Germany, Japan and the USA from 1990 to 2017 (Data source: IEA. PVPS. National Survey Report of PV Power Applications). By the end of 2009, the cumulative PV installed capacity in China was only 300 MW.

How will solar PV transform the global electricity sector?

Alongside wind energy, solar PV would lead the way in the transformation of the global electricity sector. Cumulative installed capacity of solar PV would rise to 8 519 GW by 2050 becoming the second prominent source (after wind) by 2050.

How did incentive policies affect solar PV development?

Platzer et al. (Platzer, 2016) pointed out that the introduced incentive policies were the key factors to affecting the PV deployment and that they helped to initiate the early niche markets in the United States. Since the 1990s, Japan and Germany have become the leading countries in solar PV development.

How has solar PV industry changed over the past decade?

Global cumulative investment in solar PV manufacturing facilities doubled in the past decade amounting USD 100 billion in 2021 increasing by 50% during 2014–21 as compared to 2008–14. Additionally, the solar supply chains is highly concentrated in China, and there is need for diversification across the regions.

How can the solar PV industry continue to grow?

The further growth of the solar PV industry largely depends on reducing the balance of system (BoS), which makes up most of the total installed system costs and has the greatest potential for cost reduction.