CITIC Securities 2024 Photovoltaic Installed Capacity Forecast

Summary

[CITIC Securities: Photovoltaic installed capacity is expected to reach 200GW-210GW in 2024]A CITIC Securities research report pointed out that domestic photovoltaic growth is gradually facing the bottleneck of grid consumption. It is expected that photovoltaic installed capacity will reach 200GW-210GW in 2024, and the year-on-year growth rate may fall back to 5%. —10%, among which the proportion of centralized ones is expected to rise steadily; in the European and American markets, with the strengthening of growth targets and the implementation of subsidy policies, the growth momentum is expected to be significantly strengthened as interest rates decline, while emerging markets such as India and Brazil are expected to benefit from the sharp increase in photovoltaic costs. The decline in demand has accelerated the release of stimulus demand. It is expected that the global newly installed photovoltaic capacity will be nearly 450GW in 2024, a year-on-year increase of approximately 20%. In terms of inventory, it is estimated that European component inventory will be close to 50GW by the end of 2023, and is expected to steadily improve with demand growth in 2024; while the destocking of overseas inverters is nearing completion, inventory levels are gradually returning to normal levels, and export demand in 2024Q1 may reach an inflection point for further improvement. .

　　securitiesTimes Network News,CITIC Securitiesresearch reportIt is pointed out that domestic photovoltaic growth is gradually facing the bottleneck of grid consumption. It is expected that the installed photovoltaic capacity will reach 200GW-210GW in 2024, and the year-on-year growth rate may fall back to 5%-10%. Among them, the proportion of centralized ones is expected to steadily rebound; the European and American markets are strengthening their growth targets and subsidy policies are implemented, with theinterest rateOn the downside, growth momentum is expected to be significantly strengthened, and emerging markets such as India and Brazil are expected to benefit from a significant drop in photovoltaic costs, stimulating the accelerated release of demand. It is expected that the world’s newly installed photovoltaic capacity will be nearly 450GW in 2024, a year-on-year increase of approximately 20%. In terms of inventory, it is estimated that European component inventory will be close to 50GW by the end of 2023, and is expected to steadily improve with demand growth in 2024; while the destocking of overseas inverters is nearing completion, inventory levels are gradually returning to normal levels, and export demand in 2024Q1 may reach an inflection point for further improvement. .

(Source of article: Securities Times.com)

Source of article: Securities Times Editor-in-Chief: 6

Original title: CITIC Securities: Photovoltaic installed capacity is expected to reach 200GW-210GW in 2024

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