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International market research institute Frost & Sullivan (F&S) recently released a report "2018 Global Renewable Energy Outlook", saying that it is expected that new solar installations will reach 90 GW
in 2018.
The report pointed out that although photovoltaic power generation will decline slightly year-on-year, the overall annual growth rate of renewable energy will reach 13.
3%.
Driven by solar photovoltaics, 154.
6 GW
of new renewable energy capacity will be added throughout the year.
The report predicts that global renewable energy investment will reach $228.
3 billion this year, a slight increase of 0.
7%
from 2017.
While China's 5.
31 PV policy will have a profound impact on solar energy and is expected to significantly reduce global installations, developments elsewhere will be more positive
, the report said.
These include the creation of an India-led international solar alliance, and F&S is expected to drive a rapid increase in installations in several emerging markets
.
In addition, the growth of floating solar installations will double or even triple
from the 1 GW currently installed.
While many markets are reducing or withdrawing policy support, F&S still sees political will as a key driver
as renewables become more able to compete commercially.
"Globally, we are seeing an increase in the number of countries that cut subsidies, the market has to consider purely commercial alternatives such as competitive auctions and private sector power purchase agreements," explains Maria Benintende, senior industry analyst at F&S for Energy and Environment.
”
F&S has also noticed a trend
for businesses to shift to covering multiple areas.
"The future of renewable energy will be hybrid, with a special emphasis on storage solutions," Benintende continued, "To succeed in this market, OEMs need to evolve from equipment and related service providers to power generation solution providers
.
”
Latin America's renewable energy growth rate of 20.
1% by region by region is also a positive sign, according to the report, while Europe's target of 32% renewable energy by 2030 will also send positive signals
.
International market research institute Frost & Sullivan (F&S) recently released a report "2018 Global Renewable Energy Outlook", saying that it is expected that new solar installations will reach 90 GW
in 2018.
The report pointed out that although photovoltaic power generation will decline slightly year-on-year, the overall annual growth rate of renewable energy will reach 13.
3%.
Driven by solar photovoltaics, 154.
6 GW
of new renewable energy capacity will be added throughout the year.
The report predicts that global renewable energy investment will reach $228.
3 billion this year, a slight increase of 0.
7%
from 2017.
While China's 5.
31 PV policy will have a profound impact on solar energy and is expected to significantly reduce global installations, developments elsewhere will be more positive
, the report said.
These include the creation of an India-led international solar alliance, and F&S is expected to drive a rapid increase in installations in several emerging markets
.
In addition, the growth of floating solar installations will double or even triple
from the 1 GW currently installed.
While many markets are reducing or withdrawing policy support, F&S still sees political will as a key driver
as renewables become more able to compete commercially.
"Globally, we are seeing an increase in the number of countries that cut subsidies, the market has to consider purely commercial alternatives such as competitive auctions and private sector power purchase agreements," explains Maria Benintende, senior industry analyst at F&S for Energy and Environment.
”
F&S has also noticed a trend
for businesses to shift to covering multiple areas.
"The future of renewable energy will be hybrid, with a special emphasis on storage solutions," Benintende continued, "To succeed in this market, OEMs need to evolve from equipment and related service providers to power generation solution providers
.
”
Latin America's renewable energy growth rate of 20.
1% by region by region is also a positive sign, according to the report, while Europe's target of 32% renewable energy by 2030 will also send positive signals
.
