The total corporate funding into the global solar sector increased by 55% in Q1 2023 compared with Q4 2022, and 11% year-on-year compared with the same period in Q1 last year.
PV module prices are set to fall considerably in the next five years, though US market prices will remain higher than the rest of the world as its import policies and ongoing competition with China add a market premium.
2GW worth of solar PV modules were detained at the US border throughout 2022 as a result of the Uyghur Forced Labor Prevention Act (UFLPA), representing 1,423 individual shipments.
The China Energy Engineering Corporation has reportedly proposed to build a 1GW floating solar installation in Zimbabwe, at the Kariba Dam on the Zambizi river.
New PV instalments for the first two months of 2023 in China reached 20.37GW, up 87.6% from the same period last year when it reached 10.86GW between January and February 2022, according to China's National Energy Administration's latest data.