Global solar manufacturing capacity continues to surge, despite bankruptcies, reaching an incredible 70,000 megawatts per year. That 70,000 megawatts of capacity is chasing a 31,000 megawatt market.
US solar installations next year will set yet another record of 4,000 megawatts and account for about 14% of the global market and less than 6% of global manufacturing capacity.
The global solar manufacturing capacity that is more than two-times greater than the global solar market insures intense, darwinian competition in the solar supply chain. This competition is spurring continuing large cost declines as well as increasing solar efficiency and innovation. All that adds up to solar quickly getting more and more competitive in places around the USA and world.