SolarPower Europe Ups Global PV Forecast

European Solar Sector Association SolarPower Europe Increases Global PV Installation Estimate For 2019 To nearly 120 GW And Over 130 GW In 2020
03:06 AM (Beijing Time) - 25. January 2018
n_mar_Europe_SolarPower Europe Ups Global PV Forecast_ab 2018-01-22

Key Takeaways

  • SolarPower Europe has revised its PV installed capacity outlook for 2019 and 2020
  • In 2019, it expects 120.6 GW of new solar power installations globally, while in 2020, the number is forecasted to be 132.6 GW
  • This second upward revision since May 2017 by the association is owing to further good policy and investment news
  • It has maintained its September installation forecast for 2017 and 2018 at 98 GW and 107 GW, respectively

The world looks set to add 120.6 GW of new PV capacity in 2019 and take it up another 132.6 GW in 2020. These revised estimates from SolarPower Europe were published as part of the association’s Q3/2017 Global Market Outlook Update in December 2017.

In Sept. 2017, the European solar industry association had predicted 114.8 GW of PV additions for 2019 and 119.7 GW for 2020. This was the second upward revision since May 2017, when SolarPower Europe released its Global Market Outlook 2017-2021 Report. The new 2019 estimate translates into 30% more growth over its May estimate of 91.8 GW and is up 36% compared to the former 97.6 GW for 2020.

Michael Schmela, executive advisor & head of market intelligence with SolarPower Europe, attributes this upward revision to “further good policy and investment news.”

For 2018, SolarPower Europe has reiterated its September estimate of 107 GW of new PV capacity. This resonates with Bloomberg New Energy Finance report, which published in January that it expects China to lead the pace of new global PV capacity installations, amounting to 107 GW in 2018 (see Solar Bags 48% Of Clean Energy Investment In 2017).  

The European association had previously assessed that total  installed PV capacity would exceed 400 GW in 2018 (see Nearly 1 TW PV In 5 Years Possible). The new estimate will bring total capacity to over 500 GW.

More information about the Q3/2017 Global Market Outlook report is available on SolarPower Europe’s website.

 

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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