Top solar manufacturers show resilience in H1 2024

Wood Mackenzie’s H1 2024 rankings reveal top solar manufacturers achieving 66% utilization rates despite a 70% price drop, ensuring global demand is met.

New Update
Eight of the top 13 solar manufacturers achieved profitability despite shrinking margins and significant overcapacity in 2024.

Eight of the top 13 solar manufacturers achieved profitability despite shrinking margins and significant overcapacity in 2024. Photograph: (Image Source: Wood Mackenzie)

The top ten solar PV module manufacturers have demonstrated resilience in H1 2024 despite facing significant challenges, Wood Mackenzie reports. These companies achieved an average utilization rate of 66%, with most exceeding 70%, despite a 70% price drop in solar modules, from $0.24 to $0.08 per watt. Eight of the 13 leading manufacturers reported positive profits, driven by cost control and efficiency optimization. The top ten manufacturers, including companies from China, India, Singapore, and Japan, have sufficient capacity to meet global annual demand. Rapid adoption of TOPCon, HJT, and BC technologies has accelerated, with research and development investments averaging 4%. Overcapacity concerns persist due to low utilization rates, shrinking margins, and cautious expansion strategies among manufacturers. The rankings assessed 38 manufacturers across nine criteria, covering 68% of global capacity and 84% of shipments. 

Advertisment {}
Advertisment

Scan to join our channel

QR Code
Latest Stories