The global PV market will increase its capacity by 200 GW in 2020

In its latest “Global PV Market Report”, the PV Market Alliance stated that despite the recent sudden changes in the government’s policy leading to a decline in China’s installed capacity this year, it is expected that the global PV market will not be significantly affected.

In fact, it is predicted that the installed capacity of markets outside of China will increase from 45 GW in 2017 to more than 60 GW this year, and China will see the market stagnate or experience a possible decline.

This will be in line with Taiwan’s expectation of negative growth for the global PV market this year. Global PV demand will shrink by 5%-8% to 92-95 GW, with China’s installed capacity falling by 40% to 31.6 GW. In contrast, IHS Markit and SolarPower Europe have recently revised their forecasts and are expected to increase by more than 100 GW this year.

PVMA said that many emerging markets in India, Europe and continents will see strong growth in 2018. By 2019, the world PV market except China will set a new installed capacity of 100 GW. It is expected that this figure will continue to grow.

In the recently announced global solar market outlook for 2018-2022, SolarPower Europe stated that 14 countries are installing new photovoltaic power generation of 1 GW or more in this year, and in 2017, only 7 countries will achieve new capacity of 1 GW or more. .

In general, PVMA expects that the global PV market will double in the next five years and reach 180 to 200 GW by 2022. Although there is obvious uncertainty, the current transition period in China will not have a significant impact on the market after 2020, and the photovoltaic market will continue to maintain strong growth.

PVMA also expects that the PV market will continue to maintain industry diversification and the new market segments will make a huge contribution. In general, these new applications, such as floating photovoltaic, agricultural photovoltaic, photovoltaic building integration and automotive PV will account for 25% of the total market by 2022.