Solar manufacturing expansion plans for Q1 2020 top 500GW in unprecedented record
The solar industry announced unprecedented levels of capacity expansion plans in the first quarter of the year - some 500GW - easily surpassing any total annual plans in the history of the industry, preliminary data compiled by PV Tech shows.
PV Tech's preliminary analysis of upstream manufacturing capacity expansion announcements in the first quarter of 2020, across ingot/wafer, solar cell and module assembly segments combined, exceeded a staggering 500GW.
To put this in perspective, PV Tech's preliminary analysis of capacity expansion plans announced in 2019 reached a combined total of over 228GW, less than half the combined figures announced in Q1 2020.
The vast majority of announcements in Q1 2020 were driven by China-based PV manufacturers. In 2019, China accounted for around 94% of capacity expansion announcements, according to PV Tech's analysis.
It should also be noted that the combined total of over 228GW announced in 2019 was a new annual record for the PV industry surpassing the previous record set in 2017.
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