The supply chain is the heartbeat of renewable energy’s tripling target.
By the end of 2024, global solar PV installations surpassed 2.1 TW, and energy storage capacity also quadrupled compared to 2021, approaching 180 GWh. To support this massive growth, solar PV and energy storage have not only achieved breakthroughs in technology and costs, but have also driven rapid supply chain expansion, triggering new waves of disruption in 2025. The real battleground is not just where systems are installed, but across every link of the global supply chain.
The global solar PV and energy storage supply chains are facing a critical test. Rapid policy shifts, raw material price volatility, the geographic reshaping of manufacturing, and rising low-carbon standards are all challenging their scalability and resilience. From polysilicon, wafers, cells, and modules to inverters and system integration in solar PV, and from critical minerals to lithium batteries and integration in energy storage—whether the world can meet the renewable tripling target and advance the energy transition over the next five years will depend on the stability, flexibility, and sustainability of the solar PV and energy storage supply chains.
In "On the Road to Net Zero: A Forecast to 2030 For Solar and Energy Storage White Paper," InfoLink, at the pivotal point of 2025, summarizes the developments of 2024 and offers clearer observations on the global course ahead:
- Policy-driven growth in major markets
- Competitive races and geopolitical shifts in key materials and capacities
- Technological evolution reshaping supply chain dynamics
Over the next five years, the solar PV and energy storage supply chains will not merely support the energy transition—they will be the strategic key players.
This White Paper is intended both as a compass and a call to action.
From 2025 to 2030, the golden window of six years of challenges, only by advancing together can we build a future anchored by renewable energy and sustainable development.
This 2024 white paper examines two major aspects: solar and energy storage, shedding light on the progress of renewable energy development:
- To limit global warming to 1.5°C and 2°C by 2030, 8.5 TW and 5 TW of renewable energy capacity are needed, respectively. Global capacity may exceed 10 TW, but there’s still a 2.5 TW shortfall.
- Global electricity demand is projected to reach 37,091 TWh by 2030, driven by economic recovery and growth in developing nations. Renewables must expand beyond the current 30% share to reduce emissions.
- Despite rapid renewable growth, political and financial constraints in developing economies, along with continued reliance on coal and natural gas, highlight the need for stronger renewable policies and innovation.
- Report format: PDF
- Release time: August 2024
- Language: Chinese/English
This white paper examines three major aspects: solar, wind, and energy storage, shedding light on the progress of renewable energy development:
- Despite surging commodity prices and supply chain costs in 2022, the LCOE of solar remains notably lower than that of traditional energy sources in the three markets. Solar power has become the most-installed renewable energy, and its annual installation rate continues to rise.
- Wind power still has room for cost reduction due to ongoing technological advancements, particularly in the development of offshore wind power, which has seen accelerated growth in recent years.
- With the rapid expansion of cell production capacity by companies in recent years, global cell supply and demand will reach a balance after 2025. This will further drive down the cost of energy storage. Rapidly increasing installed solar and wind capacity will ramp up the development of energy storage.
- Report format: PDF
- Release time: June 2023
- Language: Chinese/English