Soaring European Energy Prices to Significantly Boost Household PV Demand, US PV Market Will also Balloon

Zhu Gongshan, founder and chairman of GCL Group, one of the global leading PV manufacturers, said that rising energy prices in Europe have driven the rapid growth of household photovoltaic demand. He expected that European photovoltaics will maintain a high growth rate of 40% this year. The cumulative installed capacity of photovoltaics in Europe will exceed 320 GW by 2025 and reach more than 1 TW by 2030.

In the next ten years, the cumulative installed capacity of photovoltaics in the United States is projected to reach about 800 GW.\