Solar Market and Cost Analysis

Capacity (GWdc) The Global PV Ecosystem Global PV Manufacturing Capacity 700 ■Outside China 600 Outside China (PRC HQ) China 500 98%-99% 98% 86%-92% 400 81% 81%-88% . • As of December 2022, over 80% of each of the various c-Si manufacturing steps is performed in China. Ingot and wafer form the tightest bottleneck, at 98% of global capacity within China. - The percentages rise even higher when accounting for manufacturing facilities located outside China but headquartered within China. Given the announced capacity increases within China, this imbalance is unlikely to change soon. However, there have been several recent announcements of wafer/ingot capacity around the globe outside China. 300 200 100 0 illl Greenland Canada SPI Energy (3 GW) United States Convalt (4 GW) North Atlantic Turkey Iraq Qcells (3.3 GW) Iran Polysilicon c-Si Ingots c-Si Wafers c-Si Cells c-Si Modules CubicPV (10 GW) Algeria Egypt Libya Saudi Arabia Mai Niger Sudan Chod Finland Sweden Norwegian Crystals (6 GW) United Kingdom Poland Germany Ukraine France Spain Kazakhstan Mongolia Astrasun (1.8 GW) Maly China South Korea JinkoSolar (7 GW) ET Solar (5 GW) Japan JA Solar (2.5 GW) Afghanistan Pakistan Nigeria Venezuela Colombia Ethiopia DRC Калуз Tanzania LONGI indonesia Gui Manufacturing Capacity (2022) Braz Peru Bolivia Angola Chile South Atlantic Ocean Namibia South Africa Madagascar Botswana Indian Ocean Australia Sources: BloombergNEF, as of December 2022. Ultra Low-Carbon Solar Alliance, Convalt, ET Solar, JA Solar, Norwegian Crystals, Astrasun, and LONGI. NREL 33

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