In 2024, China once again cemented its role as the global engine of solar growth, exporting an impressive 235.9 GW of photovoltaic modules worldwide—accounting for over 42% of total global PV shipments. According to Ember and InfoLink Consulting, these exports saw broad-based increases across all continents, except Europe, which experienced a more moderate growth rate due to oversupply and market saturation in previous years.
The largest year-over-year growth came from Asia, which soared from 24.5 GW in 2023 to 61.5 GW in 2024, driven by surging demand in India and Southeast Asia. Africa also made a notable leap, from 7.2 GW to 12.9 GW, as more governments and international funds prioritize solar in grid expansion and rural electrification projects. Latin America and the Caribbean saw healthy demand too, growing to 32.8 GW, led by Brazil and Chile.
Europe: Still Leading, but Slowing
Europe remained the largest regional market for Chinese solar exports, receiving 98.7 GW in 2024. Although this marks only a 21% increase from 2023, it reflects a mature but still active market.
At the country level, the Netherlands (40.0 GW) remained Europe’s top importer—largely due to its role as a logistics hub—followed by Spain (10.9 GW), France (6.8 GW), and Greece (5.8 GW). Germany imported 3.46 GW, while Italy and Portugal followed with 1.9 GW and 4.7 GW respectively. Smaller but growing markets like Slovenia (4.4 GW) and Belgium (4.9 GW) also indicate a broader spread of solar adoption across the continent.
The relative plateauing in Europe can be attributed to ongoing inventory correction cycles, declining module prices, and grid connection bottlenecks in certain markets. Still, the long-term fundamentals—especially under the EU Green Deal and REPowerEU plan—remain strong.
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