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Summary:

Wood Mackenzie predicts that India, the United States, and West Asia will add 100 GW of solar power by 2025, while China will maintain its dominance. After two years of declining solar panel prices due to global overcapacity, module prices are expected to rise, compensating for manufacturers' profit losses. Emerging solar hubs in these regions will significantly boost global solar production capacity, driving industry growth.

 

The report also notes that advanced solar technologies, such as TOPCon and Heterojunction (HJT), will dominate utility-scale applications by 2025, replacing the older p-type PERC technology. These innovations promise increased efficiency and power density. However, the solar industry faces regulatory uncertainty, as new administrations following the 2024 elections may adopt conservative climate agendas. Protectionist policies and local content mandates present additional challenges. India’s non-fossil fuel capacity reached 217.62 GW in January 2025.

 

Source: IBEF

 

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