Is China's photovoltaic industry poised for a transformation?

China Chamber's Sen has said the industry is poised for a transformation due to the recurrent issue of oversupply. In 2023, prominent photovoltaic companies including Longi Solar, JA Solar, Jinko Solar, Trina Solar, and Tongwei, have unveiled plans to expand production capacity.

Where is PV electricity produced?

PV electricity generation is promoted in the EU and other countries of the world, for example, in the USA. The PV modules are being installed in residential and commercial buildings [ 79 ], and the demand for green electricity is increasing internationally. Environmental challenges are the main reason for future electricity production [ 80 ].

What happened to European PV module production in 2023?

European PV module production dropped from 9GW in 2022 to about 1GW in 2023. Image: Meyer Burger. As 2023 comes to an end, PV Tech is reviewing the year in solar, reflecting on some of the biggest stories and trends of the last 12 months.

What is the production of PV energy based on?

The production of PV energy is based on inorganic and organic technologies used to convert light into electricity. The technology of PV production has increased due to the need for low-cost solar-powered products.

Is photovoltaic energy a future energy source?

Photovoltaic energy is a future energy generation source for the EU economy, which plans to reduce greenhouse gas (GHG) emissions by 40% in 2030 compared to the 1990 levels. At the same time, the EU established the target of increasing the renewable energy share to 32% [ 25 ].

How does a PV system generate electricity?

In a PV installation, the light unit, i.e., a photon, after contact with the silicon contained in the PV module, produces an electron movement. Accordingly, electricity is generated. An inverter that converts direct current into an alternating current is a device needed to use the generated energy [ 18 ].