New pv installations will increase by 31% in 2022 and steadily increase to 2030

Europe is a bright spot for pv module makers such as Longi Green Energy and Artessun. The German installer says his team is fully booked for rooftop pv installations until 2023. Bloomberg New Energy Finance expects 238GW of new pv installations to be installed this year, 31% above 2021 levels. That was still 3.1 percent lower than expected in February. The US pv market has been hampered by the escalation of the US-China trade war in April, and Bloomberg New Energy Finance has cut its forecast for new installations in the US by 25% to 22.7GW.

Meanwhile, manufacturers of polysilicon, a key photovoltaic feedstock, such as Tongwei, Daqo Energy and Xinte Energy, are building more plants in Leshan, Sichuan province, and the Inner Mongolia autonomous Region and Xinjiang Uygur Autonomous Region; In response, Bloomberg New Energy Finance expects polysilicon production to increase 44% in 2022 from the previous year. This should ease global bottlenecks and reduce pricing/price pressures for pv module manufacturers and buyers.