A new report published by business consultants Frost & Sullivan expects around 90 GW of new solar installations by the end of 2018, in line with the predictions of other leading analysts. It further notes that PV remains the world leader in renewable energy capacity, and that markets are moving away from feed-in tariffs to make increasing use of auction models and private PPAs.
Latest Global Solar Demand Monitor from GTM Research forecasts 6% annual increase in PV installation growth, although current largest markets will register 7% contraction while geographic diversification poised to grow.
New quarterly figures from Bloomberg New Energy Finance (BNEF) show that investments in solar PV arrays of less than 1 MW hit US$14.3 billion worldwide in Q1 against 10% year-on-year contraction in global renewable investments.
The International Renewable Energy Agency (IRENA) forecasts as much as 90 GW of new solar additions annually across the globe over the next few years, driving a 60% reduction in costs.
Increasing demand for solar power in China has prompted analysts to boost their 2017 estimates, forecasting an increase of more than 9% this year, with the annual global market reaching 85 GW.
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