In recent years, double-sided solar modules have attracted wide attention in the market. Global installed capacity increased from 97 MW in 2016 to 2,600 MW in 2018.
That number will double to 5,420 mw by the end of 2019, according to Wood Mackenzie Power & Renewables'first report on the global market for two sided components. This will bring the global cumulative installed capacity of double-sided solar modules to more than 8200 MW. In addition, the size of the dual market is expected to increase tenfold in 2024.
The reasons for growth vary from region to region, but a unifying factor is the increasing cost-effectiveness of dual-sided components. The WOODMAC study found that the difference in production costs between two-sided and single-sided PERC components is now as low as 0.5% .
WOODMAC predicts that by 2024, annual global capacity for two sided components will exceed 21 gw, or 17.2% of total installed capacity for the year, quadrupling from 2019.
Regionally, China has been a traditional two-way market as its leader program has encouraged the deployment of new technologies. Looking ahead, WOODMAC found that China's two-sided market will continue to grow, but at a slow pace of 20 per cent a year, as the country adapts to a non-subsidy system.
At the same time, the U. S. two-sided solar market is expected to grow significantly by exempting imports of solar panels from Section 201 tariffs. The U.S. solar market has long faced a shortage of components because of many tariffs on imports and the country's small domestic production. As a result, solar panel prices in the United States are 40 to 50 per cent higher than those in European countries and Australia.
US double sided component installations will continue to grow over the next five years, from 500 MW in 2019 to 2,000 MW in 2020 and to more than 7,000 mw by 2024.