Featured in Connected to technology – 05-2020

2020: the first year for the PV sector to record a decline

In the wake of Covid-19, IHS Markit lowered its solar forecast from 142 GW to 104 GW. Compared to the 125 GW of solar capacity installed in 2019, the forecast would mean a turnaround from 13.6% annual growth to a 15% contraction. The IHS Markit forecast is based on Covid-19 being controlled and market restrictions being gradually lifted in the second and third quarters of the year.

By

Vincent Shaw

25 May 2020

A relatively empty street in Shanghai earlier this year. As the Covid-19 pandemic has affected both supply and demand for Chinese solar manufacturers, the industry is calling on the central government to provide assistance. | Image: Dave Tacon

In the wake of Covid-19, IHS Markit lowered its solar forecast from 142 GW to 104 GW. Compared to the 125 GW of solar capacity installed in 2019, the forecast would mean a turnaround from 13.6% annual growth to a 15% contraction. The IHS Markit forecast is based on Covid-19 being controlled and market restrictions …

This article is part of pv+

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