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Global PV installations may hit 660 GW in 2024, says Bernreuter Research

An anticipated 40% market growth in 2024 is impressive. Bernreuter Research predict a very strong second half of the year as the market sees module prices plateau at their all time lows. Of course module prices cannot reduce at the same rate indefinitely, so with more clarity on prices, demand will increase. A 600GW market represents over 1,000% growth in 10 years, not bad going! 

With many of the Hyperion team in Munich for Intersolar this week, we'll be catching up with our many solar clients to discuss their growth plans for H2 and we'll be providing our market insights. Stay tuned as we'll share more insights from Intersolar. 


Global PV installations will range from 600 GW to 660 GW in 2024, according to Bernreuter Research. Bernreuter said its forecast is supported by the shipment targets of the world's six largest solar module suppliers for 2024. On average, JinkoSolar, Longi, Trina, JA Solar, Tongwei, and Canadian Solar aim for a growth rate of 40%, which, based on global solar installations of 444 GW in 2023, would result in 622 GW of newly installed capacity in 2024.


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