Spring 2023 Solar Industry Update

500 450 C • Top PV Markets The leading 10 markets in terms of cumulative capacity remained relatively unchanged between 2021 and 2022. Brazil jumped ahead of Vietnam for the 10th spot in 2022. 462 Cumulative PV Deployment - 2022 (1,233 GWdc) 120 • • China's annual PV installations grew 57% y/y in 2022, representing 42% of total global demand. In 2022, despite a market contraction, the United States was the second-largest PV country market in terms of both cumulative and annual installations. The EU, however, was the second-largest market, with 209 GWdc of cumulative installations (17% of global installations and 3 countries in the top 10) and 38.7 GWdc annual installations (17% of global installations and 4 countries in the top 10) in 2022. Annual PV Deployment - 2022 (231 GWdc) 400 350 300 250 200 142 150 100 50 38.3 14.3 4.9 3.9 3.9 Australia Netherlands Rest of Europe Rest of World 0 China United States Japan 85 79 India Germany 67 67 30 27 Australia Spain 100 288 96.6 80 60 177 40 91 18.6 18.1 20 25 25 25 24 Note: Chinese numbers were adjusted, assuming Chinese DPV reported Italy S. Korea Brazil Sources: IEA, Snapshot of Global PV Markets: 2023; Trends in Photovoltaic Applications 2022. Rest of Europe at Rest of World 0 China United States India Brazil Spain 9.9 8.1 7.5 6.5 Germany Japan Poland Watts-DC (with an ILR of 1.1) and UPV reported in Watts-AC (with an ILR of 1.3). NREL | 5

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