The global solar module market is going through a turbulent phase, with prices dropping due to slowing demand and increased competition, especially in China. Concerns are rising over the sluggish development of solar projects there, casting doubt on future demand growth for 2024. Despite this, investments in clean energy technologies worldwide are set to hit $2 trillion by year-end, with over $500 billion earmarked for solar power, making it the most financed energy source for the second straight year.
Renewable energy capacity soared by nearly 50% to over 500 GW by 2023, with solar accounting for the lion’s share of growth. This shift has made electricity cheaper, with most new large-scale solar projects undercutting the costs of new coal and gas plants. Solar prices continue to plummet, dropping nearly 50% by 2023. For instance, solar prices in Spain and…
