Global Solar PV Market Records First Shipment Drop in 2025

Global solar photovoltaic (PV) module shipments fell 6% in 2025 to 643 GW, marking the first contraction after four years of rapid growth. Installations still reached a record 664 GW, pushing cumulative capacity to about 2.9 TW, while nameplate capacity rose to 1,315 GW, squeezing utilisation rates and margins across the industry.

Top manufacturers saw mixed results: LONGi reclaimed the lead with 87 GW shipped, JinkoSolar fell to second place, and Canadian Solar posted a 29% gain to 40 GW. In Europe, module prices were largely stable in July, with improved availability except for back‑contact modules above 24% efficiency, where demand exceeds supply. Major Asian firms are developing back‑contact technology, while patents disputes continue among Chinese producers. The sector is also looking ahead to perovskite‑based tandem modules, with pilot production already underway and commercial products expected by 2027‑2028.