Solar energy demand could rise by 40% in 2023 says Bloomberg Intelligence
#Solar will remain the energy sector’s fastest-growing sub-segment, says a Bloomberg Intelligence report, which suggests that demand could soar by 30-40% in 2023. The good news for the solar sector follows a record 2022, when global solar capacity expanded by about 38%. Electronics distributor Avnet Abacus recently published data showing that the number of UK solar companies listed on Crunchbase continues to grow year-on-year and in 2022 total investment in the sector was $362 million (around £286 million), with a mean average funding round of $40.2 million (£32 million). The Bloomberg report added that profitability metrics for solar companies could also improve with cheaper lower input costs and supply chain constraints. Rob Barnett, BI Senior #cleanenergy Energy Analyst, said: “Global solar demand may rise about 30-40% in 2023 with industry revenues increasing about 35%. Despite such fast top-line growth, solar share prices have trailed this year relative to the overall mark