Smoke rises from chimneys near solar panels, during a Huawei-organised media tour, in Shaanxi province, China April 24, 2023. REUTERS/Tingshu Wang/File Photo
But China has invested more than $130 billion into its solar industry this year, the analysis said, and will bring more than a terrawatt of solar wafer, cell and panel capacity online by 2024. That's enough to meet annual global demand through 2032. The United States and India combined have announced more than 200 gigawatts of module capacity plans since 2022, Wood Mackenzie said.
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