April 17, 2018 Read More →

Global Solar PV Market to Top 100 GW in 2018

Greentech Media:

The global solar PV market will add over 100 gigawatts of capacity for the first time in 2018.

According to the latest Global Solar Demand Monitor from GTM Research, installations will reach 104 gigawatts this year, representing 6 percent annual growth. After that, annual installations will easily exceed the 100 gigawatt milestone through at least 2022.

The year-over-year growth is due in part to geographic diversification, as the top four markets are anticipated to collectively decline by 7 percent.

Installations in China will fall from 53 gigawatts in 2017 to 48 gigawatts in 2018, although China alone will account for 47 percent of global demand this year. For the first time in China’s history, annual distributed solar installations (<20 megawatts) are expected to surpass 50 percent of the nation’s annual installed capacity.

According to the report, the U.S. market is expected to add 10.6 gigawatts of solar PV in 2018 while India will install 7.1 gigawatts. In 2018, Latin America will add 5.6 gigawatts and the MENA region (Middle East and Africa) will add 4.7 gigawatts, representing explosive year-over-year growth of 61 percent and 281 percent, respectively.

More: Global Solar PV Installations to Surpass 104 GW in 2018

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