- The top three 3 global solar power markets in the world in H1/2018 were China, India and the US, according to Mercom India Research
- India was the second largest market globally in H1, as its installations went up during Q1/2018
- India does not look like it will be able to hold the fort as policy uncertainties, safeguard duty and module prices has made its project pipeline go slow
China, India and the United States together added 33.9 GW of new solar PV capacity in the first six months of 2018. According to Mercom India Research, India replaced the US as the second largest solar market globally with its 4.9 GW addition, compared to 4.7 GW by the US.
In Q1/2018, India installed 3,344 MW, the US added 2,427 MW, but in the second half, the tables turned. The US added more PV in Q2/2018 than India – 2,273 MW compared to 1,599 MW (see US Solar Market Deployed 2.3 GW PV In Q2/2018).
China upheld its number one position, adding 24.3 GW in H1, despite the solar restructuring announcement end of May 2018 (see China Installed 24.3 GW PV In H1/2018).
However, India might loose its second rank to the US again when looking at the full year 2018 Mercom points at the weak project development pipeline in the country due to imposition of safeguard duty, module prices and policy uncertainties.