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The solar PV industry has been an incredibly fast-growing industry, and it shows no signs of slowing down. According to the latest figures from GTM Research, the global solar PV market will nearly double over the next three years, from 74 gigawatts in 2017 to 144 gigawatts in 2020. The market research firm estimated that annual installations will climb from 41 gigawatts in 2017 to 58 gigawatts in 2020—a compound annual growth rate of 8%. In 2015, it saw record-breaking solar PV installation levels, with 64 GW deployed globally—an increase of 49% compared to 2016.

Why Should We Care About Global Solar Supply Chains?

The solar industry is one of the fastest growing industries in the world, and with that growth comes an increase in demand for solar panels. To meet this demand, manufacturers are turning to global supply chains to source the materials they need. For example, many Chinese companies use polysilicon from Vietnam to make their silicon wafers. The problem is that sourcing material like polysilicon can be difficult because it’s not mined in any specific region. As a result, countries have been working together to lower trade barriers so it will be easier for them to import and export materials like polysilicon without too much red tape or hassle.

What Do We Mean by Global Solar Supply Chains?

A global solar supply chain is a network of suppliers, manufacturers, and distributors that work together to produce and deliver solar photovoltaic (PV) products and services to customers around the world. The rise of solar PV as a source of renewable energy has led to an increase in the number of companies involved in solar PV supply chains, as well as the geographic spread of these supply chains.

A few examples of how solar companies have done this

1. First, solar companies have set up manufacturing facilities in multiple countries. This allows them to take advantage of lower labor costs and a variety of government incentives.

2. Second, they have established partnerships with local companies to source the needed raw materials. This has helped them avoid trade tariffs and get the best product prices.

3. Third, they have worked with logistics companies to set up efficient supply chains that can quickly deliver finished products to customers around the world.

Looking Forward – What Could Happen Next?

The globalization of the solar PV supply chain is set to continue, with more manufacturers setting up production facilities in key markets around the world, especially with the nascence of crowd-grid ecosystems. This will help drive down costs and increase efficiency, making solar power an even more attractive proposition for consumers and businesses. In the future, we could see a completely integrated global solar PV supply chain, with manufacturers, suppliers, and installers working together to provide a seamless service.

Conclusion

The global solar PV industry is becoming increasingly interconnected, with manufacturers and suppliers around the world. This trend is driven by the falling cost of solar PV technology, making it more accessible to a wider range of countries. As the industry continues to grow, it is likely that the global supply chain will become even more complex and interconnected.


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