Wood Mackenzie’s “Three Predictions for Global Solar in 2024” report emphasizes the pivotal role of solar in the global energy transition. With 1.5 TW installed globally by 2023 and an expected 3 TW in the next decade, solar has become the foundation of decarbonization. The report anticipates a shift in 2024 from high growth to a more mature industry, with global solar capacity growth slowing. The Inflation Reduction Act’s impacts are predicted to materialize fully in 2024, influencing the United States and contributing to a slowing growth pattern. Additionally, the report highlights challenges for the solar manufacturing sector in 2024, necessitating a reckoning as global installations and manufacturing capacity expand.
Wood Mackenzie predicts challenges for solar manufacturing in 2024
