31 Dec
2020

Wood Mackenzie: Global solar installations to hit record 114.5GW in 2019

first_img FacebookTwitterLinkedInEmailPrint分享Greentech Media:Global solar PV installations will reach a new high of 114.5 gigawatts in 2019, up 17.5 percent over 2018.According to Wood Mackenzie Power & Renewables’ new report, Global Solar PV Market Outlook Update: Q2 2019, the market is now back on a strong growth trajectory after a slowdown in 2018. Annual installations are expected to rise to around 125 gigawatts per year by the early 2020s.Global growth will continue despite a gradual decline in China, the world’s largest PV market. The Chinese market peaked at 53 gigawatts in 2017, driven by generous feed-in tariffs. We anticipate that a move toward more competitive procurement of solar PV will lead to more sustainable annual additions of 30 to 40 gigawatts.Countries installing between 1 to 5 gigawatts annually will be the market’s growth engine. In 2018, there were seven such markets. By 2022, we forecast that there will be 19, with new names added to the list including Saudi Arabia, France and Taiwan.In India, auction activity is starting to recover after a slowdown caused by land and transmission constraints. In the U.S., announcements of new state utility integrated resource plans, in Florida for example, are good news for the solar PV market.The European market will grow strongly as policy-driven markets look to deliver on 2020 and 2030 renewable energy targets.More: Global solar installations to reach record high in 2019 Wood Mackenzie: Global solar installations to hit record 114.5GW in 2019last_img read more

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