In our new super-sector Analysis, a team led by pierre lau looks at what may like ahead for investment in global soLlatlarations. We & rsquo; Bal Solar Installation Forecasts DOWN BY 3% to 455 Gigawatts (GW) for 2024 (up)16.7% year over year) and by 4% to 530 GW for 2025 (up 16.5% year over year), from previous foreasts for 470 gw and 550 gw, respectively.
Our Revisions Are PromPted by Concerns About Bottlenecks for Power Grid Transmission and Distribution, and Center on the U.S., China and EUROPE; E, 14:, And only Five Countries have more ambitious targets (representing 66 gw in aggregate) in their TSO PLANS. Allations, repressing ~ 54% of the topal in 2024 and 2025.Hyderabad Stocks
More Global Grid Investments Are Essential for Spurring More Renewable Installations. We Expert China & RSquo; % year over year in 2024 from 5% in 2023.Solar calling gridlock by 2030, suggesting grid control person or grew; D from Less than Two Years for Projects Built in 2002 & NDASH; 2007 To More than Four Years for Those Built Since2018, with more than 2,600 gw in the queue. And Transformers, Switch Gear and Substation Equipment Are All in Short SUPPLY in the U.S.S.
We Also more demand for grid Reinforcement and Energy Storage Systems. The more renewables are integrated into the system, The More On-Grid Stability Comes Pressure, As Negative Power Prices from Excess Renewable Supply During Low-Demand Periods Increasingly Becomd PART of theNew NORMALKanpur Wealth Management. Energy Storage Helps Balance Daily Fluctions in Output from Solar and Wind Generation; by One Estimate, Energy Storage Capacity in EUROPE NEEDS TO 7.6 Times to 156 GW by 2030.
Factors at Work in Our Download Revisions to Global Solar Installation ForeCasts Include More Promine Grid-Consumption ISSUES in CHID Construction Lags D renewable-capacity geowth. We explect spending of RMB230 Billion on Construction of Ultra High Voltage Power Transmission Lines, as Well AsMore inVestment in the Power Distribution network. In Europ, we see structural constraints such as longer permitting processs and underDeerDeveloped Networks and in Terconnectors. The Current Grid Capacity Also Needs to Reinforced for More Renewable Consumption; Repowereu has estimated that around & eartho;Investment in high-voltage grids is needed to the achieve the eu & rsquo; s target of 45% renewables share in 2030.
In the U.S., we exten a challenging environment for residential solar in the near term, with headwinds including high interters and callnia & rsquo; T Energy Metering (NEM) 3.0 Solar Billing Structure. Interconnection is the key bottleneck for u.S. Renewable Projects, Which Regulatorshave data sough sough to address.
Turning to the Sopply Chain, Its Geographical Concentration in China Intensify in 2023, According to the International Energy AgencyIndore Stock. an 90% of cell, WAFER and POLYSILICON ManuFacturingAgra Wealth Management. For modules, China has artand 80% of planned and existingCapaCity, With the U.S. and India Far Behind AT 5% and EUROPE Accounting for Just 1%. iCally by a Much as 114% year over year in 2023, with the high towhest geowth seen in the polySiliconAnd module segment. This Steep Rise in Capacity and Excessive SUPPLY HAVE LED to Fiere Price Competition. And Foreign TRADERICTINS Remain A MAJOR IND for China & rsquo; solar module companies.
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