GTM lowered its 2018 global solar demand forecast to 85.2 GW

Global solar demand will reach its lowest quarterly level since 2015 between July and September, largely as China cuts support for new utility-scale PV projects and imposes a 10 GW cap
on distributed generation.

Global solar quarterly demand trends in 2018

According to GTM Research's Global Solar Demand Monitor report, solar demand will increase by 42%
sequentially in the fourth quarter as the Chinese market begins to recover and the U.
S.
enters its busiest deployment period of the year.

GTM expects global PV demand to shrink to 85.
2 GW this year from a previous forecast of 103.
5 GW
.
In North America and Europe, demand is expected to be "relatively stable," growing by 16 percent and 12 percent
, respectively, this year.

GTM lowered its 2018 global solar demand forecast to 85.
2 GW

GTM analysts said the European market is growing
as it strives to meet its 2020 EU energy target and its new target of securing 32% renewable energy supply by 2030.
In a lower module price environment, more markets are likely to reach meaningful tipping points
for the non-subsidized PV economy within the forecast range.

This year, the Middle East will account for 3% of global PV capacity, and this figure will grow to 9%
by 2023.
The growth of Saudi Arabia and the United Arab Emirates will reach 50% of the region's
installed capacity.

Latin America is expected to account for 7% of global installations by 2023, with Mexico, Brazil and Chile accounting for 81%
of the region's installed capacity.

Meanwhile, GTM expects China's demand to fall to 28.
8 GW this year from 48.
2 GW, down from TrendForce's forecast of 31.
6 GW
.
China is expected to deploy 141 GW of capacity between now and 2022, up from an initial estimate of 206 GW
.

"20-25 GW of installed capacity per year will be the new normal in China, not 30-40 GW
.
" Analysts added that China could see auctions and subsidy-free solar as its key driving vanguard
.

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