PV Market Alliance expects 120 GW of new solar capacity in 2019

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From pv magazine Germany.

Once again in 2018, the 100 GW mark for new PV capacity was narrowly missed, according to market research company PV Market Alliance.

Analysts say 98 GW of PV capacity was installed last year, a gigawatt shy of the figure they registered a year earlier. With around 44 GW, China accounted for almost half of global capacity additions, a figure that was down 17% on 2017’s record 53 GW as markets in the USA, Japan and India also stagnated, to post a combined 26 GW.

In Europe, 8.5 GW were installed, with Germany and the Netherlands driving demand, and PV Market Alliance expects sustained growth in the market this year.

Nations including Australia, South Korea, the United Arab Emirates, Egypt, Mexico and Brazil – which together accounted for 19.5 GW of new projects last year – have become significantly more important.

By the end of 2018, the world had installed cumulative PV capacity of almost 500 GW.

PV Market Alliance warned its forecast for 2019 hinges on political decisions in key markets, above all China. In a largely stable Chinese market, global solar installations would grow by about 20% to as much as 120 GW, say the analysts, with the Middle East, Latin America and Europe offering potential for significant growth. At Intersolar Europe 2018, PV Market Alliance forecast a worldwide market volume of 180-200 GW by 2022.

The company pointed out those figures related solely to grid-connected PV.