The world is increasing its installed solar PV capacity as 1TW will be added annually by 2030, while the annual polysilicon and wafer production capacity will continue to rise, according to the report Powering a Green Future: A Forecast to 2030 for Solar, Wind, and Energy Storage published by Taiwanese renewables research firm InfoLink Consulting.
Indian module manufacturer Vikram Solar has formed a joint venture (JV) with private equity firm Phalanx Impact Partners, and venture capital company Das & Co. to develop a vertically integrated solar manufacturing operation in the US.
Solar wafer producer NexWafe has secured a €30 million (US$32 million) investment to accelerate the construction of its first commercial-scale wafer plant in Bitterfeld, Germany.
Chinese solar PV manufacturer TCL Zhonghuan has planned to issue nearly RMB13.8 billion (US$2 billion) convertible bonds for its 35GW annual capacity ultra-thin high-purity mono silicon wafer and 25GW n-type tunnel oxide passivated contact (TOPCon) 4.0 highly-efficient solar cell plants.
After the passing of the Inflation Reduction Act (IRA) into law, solar PV and storage are expected to create up to 115,000 manufacturing workers in the US by 2030.