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By the end of the decade, BNEF expects cumulative capacity to breach the 200GW mark, reaching 206GW. 2020 was a slow year for global installations, with just 6GW of new capacity coming online.
 
There will be a rebound in 2021, driven by China. Following that, installations look set to dip for a couple of years before accelerating – growing year-on-year from 2024. Global installations will peak in 2030 at 28.5GW – triple the current level of installations. Reaching these annual volumes means expanding the current supply chain. Distributing supply chain resources effectively between global regions is integral to the globalisation of the industry.
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