The International Energy Agency's Photovoltaic Power Systems Programme (IEA PVPS) estimates that 173.5 GW of new solar capacity will be installed in 2021, and that figure could increase to 260 GW in 2022.

IEA PVPS recently released its latest "Trends in Photovoltaic Applications to 2022" and estimates that "at a reasonably certain level," at least 173.5 GW of new solar capacity will be installed globally in 2021, a year-on-year increase of 22%, making 2021 still under the influence of the epidemic Another new record.

Gaëtan Masson, co-author of the report and co-chair of the European Solar Manufacturing Council, said: “Last year’s market figures were incredible, but this year could be even higher, and I’m sure the market would have reached the size of the trade disruption we’ve experienced over the past two years. 260 GW.”

The forecast is "broadly in line" with an undisclosed company's forecast, he said.

He added: “Looking at the production numbers, we produced 153 GW of wafers in the first six months of the year, so it’s not entirely out of the question that the final figure is around 250 GW to 260 GW.”