Tim Buckley, director of Climate Energy Finance, speaks to pv magazine about the current steep trajectory of solar module prices. He estimates that PV panels prices will end up dropping by 40% this year and predicts the closure of old technology and sub-scale solar manufacturing facilities, both in China and globally.
Solar module prices may approach the threshold of $0.10/W by the end of 2024 or eventually in 2025, according to Tim Buckley, director of Australia-based think tank Climate Energy Finance (CEF).
Buckley said price pressure will increase due to the staggering capacity increases announced by the PV industry at the global level, although he questioned a recent forecast by the International Energy Agency (IEA) in its recent World Energy Outlook 2023, which claimed thaT the world’s cumulative installed solar capacity could reach 2 TW by 2025.
“As this new capacity is brought online for a full year, I would expect the IEA figures to be undercooked by over 50% in terms of global annual solar installs.”
“This will give many investors in the US, India, EU and China good reasons to pause or rethink their financial assumptions that underpinned their announcements of massive capacity expansions,” he said.
Rapid deflation and excessive price pressures, on the other hand, may soon lead to the closure of old technology, sub-scale solar manufacturing facilities, both in China and globally.
“Old facilities simply can’t compete with the scale advantages nor the new technology investments of the world leading firms in this sector, almost all of which are Chinese,” said Buckley.
The original article contains 634 words, the summary contains 205 words. Saved 68%. I’m a bot and I’m open source!
This is the best summary I could come up with:
Solar module prices may approach the threshold of $0.10/W by the end of 2024 or eventually in 2025, according to Tim Buckley, director of Australia-based think tank Climate Energy Finance (CEF).
Buckley said price pressure will increase due to the staggering capacity increases announced by the PV industry at the global level, although he questioned a recent forecast by the International Energy Agency (IEA) in its recent World Energy Outlook 2023, which claimed thaT the world’s cumulative installed solar capacity could reach 2 TW by 2025.
“As this new capacity is brought online for a full year, I would expect the IEA figures to be undercooked by over 50% in terms of global annual solar installs.”
“This will give many investors in the US, India, EU and China good reasons to pause or rethink their financial assumptions that underpinned their announcements of massive capacity expansions,” he said.
Rapid deflation and excessive price pressures, on the other hand, may soon lead to the closure of old technology, sub-scale solar manufacturing facilities, both in China and globally.
“Old facilities simply can’t compete with the scale advantages nor the new technology investments of the world leading firms in this sector, almost all of which are Chinese,” said Buckley.
The original article contains 634 words, the summary contains 205 words. Saved 68%. I’m a bot and I’m open source!