In 2023, 370 GW of photovoltaic capacity will be installed, annual polysilicon supply will see surplus

By the end of 2022, the global polysilicon production capacity was 1.21 million mt, and the polysilicon output was around 900,000 mt. Based on the silicon consumption of 2.5g/w per watt and a 1.2 photovoltaic capacity ratio, the polysilicon output can service photovoltaic installed capacity of around 300 GW. There is already a slight surplus in polysilicon supply, and the oversupply is expected to intensify in the fourth quarter of 2022.

In 2023, the global polysilicon production capacity will reach 2.51 million mt, and the output is expected to be 1.53 million mt. Based on the silicon consumption per watt of 2.4g/w (technical progress) and a 1.2 photovoltaic capacity ratio, the polysilicon output can service photovoltaic installed capacity of 530 GW. The global installed capacity of photovoltaic is expected to be 370 GW in 2023, leading to severe oversupply of polysilicon.