Photovoltaics Market Trends: Report
Photovoltaics is a fast-growing market: The Compound Annual Growth Rate (CAGR) of cumulative PV installations was about 27% between the years 2014 and 2024. Wafer size increased. Keeping the same number of cells, larger PV module sizes are realized, allowing a power range of up to 750 W per module. In 2024, Europe’s contribution to the total cumulative PV installations amounted to 18%. In contrast, installations in China accounted for 48% (in 2023 43%) and in North America for 10% respectively.
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