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| 1 minute read

At least 29 countries installed more than 1 GW of PV in 2023

The graph of global solar PV deployment is increasingly tending towards the hockey stick with over 400GW of new solar added in 2023.  

Out of the 29 GW-scale plus markets, over half of them are in Europe with Germany, Spain, Poland and Italy leading the way. Even with the oversupply of PV modules slashing prices as well as more favourable policies, the European market is growing at a steady pace rather than exponentially. Despite these rock bottom prices, the level of growth was not enough to absorb the huge oversupply, indicating other constraints. This article suggests that there is a global stock of approximately 140GW of panels - equivalent to the annual demand of all global markets outside of China!

One of the key factors to enable hyper-growth of the industry is the adoption of technology. 

Having recruited a number of senior leaders for PVcase, I really enjoyed CEO David Trainavicius' appearance on the Leaders in Cleantech podcast. He discussed the engineering challenges faced in developing new solar projects and how their software can significantly speed up the engineering process. Businesses like PVcase are vital to drive the industry forward, to help it become more efficient and help get more GWs of solar installed. 

At Hyperion we love to partner with companies who are pushing the dial forward in combatting climate change whether they be in solar, energy storage or future mobility.  If you're looking to add the best senior and executive talent to your business, please get in touch. 




The oversupply of PV modules in 2023 has shed light on the difficulty of aligning production and demand in an international market driven by both market forces and different national policies. The continued increase in manufacturing capacity in China largely outstripped the market’s ability to absorb new module availability.


cleantech, renewable energy, solar