The prices of solar panels in 2022 will increase again

This is not a good prospect for the photovoltaic market. According to Rystad Energy analysts, this year investors planning to build photovoltaic power plants must reckon with a clear increase in the prices of photovoltaic panels.

Rystad Energy emphasizes that photovoltaics was the most important renewable source in terms of increasing installed capacity in 2021. In total, new capacities of 227 GW were to be built around the world last year in renewable energy, which is a 4.7 percent better result. compared to the capacity launched a year earlier.

According to the analysts of the Norwegian company, in 2021, renewable sources with a total capacity of 25.2 GW were created around the world in the home photovoltaic segment, which means an increase year on year by about 30%. On the other hand, the capacity of new installations in the photovoltaic segment in commercial facilities decreased, but slightly – from 20.6 GW to 19.9 GW.

Photovoltaics is to be the most important sources of renewable energy also when it comes to investments in 2022, although – as Rystad Energy analysts point out – this year many investors who want to build photovoltaic power plants may postpone their plans or even abandon them due to the expected increase in the prices of photovoltaic panels .

The renewable energy industry has faced one of its greatest challenges since its inception, but the future has never looked better with new, bold commitments by governments and companies. Declarations on climate neutrality, which were submitted during the COP26 climate summit in Glasgow, will translate into a large increase in investments in the coming years – comments Gero Farruggio from Rystad Energy.

A threat to maintaining the upward trend in terms of investments in photovoltaics in 2022 may be the further significant increase in the prices of photovoltaic panels announced by Rystad Energy.

Rising prices of photovoltaic panels resulted in the suspension of some investments in 2021, especially in terrestrial photovoltaics. Although this segment recorded a global investment increase of around 15% last year, according to experts from Rystad Energy, more ground-based photovoltaic power plants would have been created had it not been for the rising prices of modules.

The average prices of photovoltaic modules last year were to increase by as much as 57 percent. – from about 0.21 USD / W to 0.33 USD / W.

This year, according to the Norwegian company, will again be marked by rising module prices on the photovoltaic market, and this may lead to subsequent investors deciding to resign or postpone the construction of a PV power plant.

According to Rystad Energy, the price of photovoltaic panels in 2022 will reach the highest level in the third quarter. It is then to be as high as 0.41 USD / W.

For this reason, the analysts of the Norwegian company forecast a suspension or delay in the implementation of photovoltaic power plant projects with a total capacity of up to 50 GW.

However, even if it did, it might not mean that the total capacity of PV plants put into operation worldwide in 2022 compared to the capacity put into operation in 2021.

Rystad Energy estimates that last year it announced investments in photovoltaic power plants with a capacity four times higher than in the previous year.

Rystad Energy is recording a similar 4-fold increase in investments announced last year in the case of onshore wind farms, and a 3-fold increase was to be recorded in offshore wind energy and energy storage.

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About Alex Marcell

He likes dogs, pizza and popcorn. Already a fanboy of Nintendo and Sony, but today throws anything. He has collaborated on sites and magazines such as GameBlast, Nintendo World, Hero and Portal Pop, but today is dedicated exclusively to Spark Chronicles.

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