The solar sector will reach the 200GW mark in 2022, surpassing 2021’s record of 127GW, according to analysis from RatedPower.
Annual research carried out with +100 diverse industry experts and +80,000 simulations in their software, found that growth would be led by countries with supportive government policies and investment strategies.
This would happen in conjunction with digitalisation, innovation, incentivisation and diversification.
However, the research found that bottlenecks in the development process present the biggest challenge to the sector in the coming years, according to 68% of respondents, alongside an increase in prices due to the lack of materials.
The survey showed that 53% of industry experts also view grid saturation as a significant challenge.
Technologies with highest potential included energy storage such as green hydrogen (63%) and batteries (54%).
Floating PV, offshore wind and agrivoltaics were also at the top of the list.
The highest growth potential is perceived in China, according to 64% of responses, closely followed by the US with 62%.
India and Australia also made the list with their ambitious renewable plans.
Almost all industry professionals believe that technology solutions will help them achieve their objectives in the future.
Automation and digitalisation of the processes offer benefits throughout the supply chain and will play a key role in the future.