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According to a new study released by IHS Markit, an international market research firm, 123 GW of solar PV installations are expected to be added in 2019, an increase of 18%
over the new installed capacity expected this year.
This is more positive
than PV InfoLink's recent estimate that the market will increase by 112 GW.
Edurne Zoco, director of research at solar and energy storage, said that while China currently accounts for about half of the global market, its dominance will gradually diminish, and predicted that two-thirds of the new capacity will be located elsewhere
.
Instead, the report reveals the recovery or emergence
of several other markets.
These include Argentina, Egypt, South Africa, Spain and Vietnam, which accounted for 7% of the market in 2019, i.
e.
7 GW
of new capacity.
Edurne Zoco said: "The photovoltaic industry is becoming more and more geographically distributed, with annual growth of more than 20%
in 45 national markets.
”
The U.
S.
is currently the second-largest solar PV market, and Zoco said installations will grow 28 percent next year as developers scramble to launch projects
in time for the 30 percent investment tax credit deadline in December.
Looking ahead to the manufacturing sector, which has been severely affected by China's 531 policy changes, IHS Markit said capacity will be limited
throughout the supply chain.
Instead, higher utilization is expected, which helps alleviate the current overcapacity situation
.
On the price front, while they collapsed in the second half of the year, price declines in shipments in the first half of 2019 have slowed
due to continued strong demand outside China, particularly in Mexico, Vietnam and Spain.
Zoco said, "Many international developers have already moved forward with procurement, fearing that China's upcoming new solar policy may affect module supply
from first-tier manufacturers in the international market.
”
Recently, Jenny Chase, head of solar analysis at BloombergNEF, said the global average module price is currently around 23-26 cents
per watt.
"Due to oversupply, we expect a 10-15%
decline by the end of 2019.
The average price paid by developers of utility-scale plants is about 23 cents
.
”
According to a new study released by IHS Markit, an international market research firm, 123 GW of solar PV installations are expected to be added in 2019, an increase of 18%
over the new installed capacity expected this year.
This is more positive
than PV InfoLink's recent estimate that the market will increase by 112 GW.
Edurne Zoco, director of research at solar and energy storage, said that while China currently accounts for about half of the global market, its dominance will gradually diminish, and predicted that two-thirds of the new capacity will be located elsewhere
.
Instead, the report reveals the recovery or emergence
of several other markets.
These include Argentina, Egypt, South Africa, Spain and Vietnam, which accounted for 7% of the market in 2019, i.
e.
7 GW
of new capacity.
Edurne Zoco said: "The photovoltaic industry is becoming more and more geographically distributed, with annual growth of more than 20%
in 45 national markets.
”
The U.
S.
is currently the second-largest solar PV market, and Zoco said installations will grow 28 percent next year as developers scramble to launch projects
in time for the 30 percent investment tax credit deadline in December.
Looking ahead to the manufacturing sector, which has been severely affected by China's 531 policy changes, IHS Markit said capacity will be limited
throughout the supply chain.
Instead, higher utilization is expected, which helps alleviate the current overcapacity situation
.
On the price front, while they collapsed in the second half of the year, price declines in shipments in the first half of 2019 have slowed
due to continued strong demand outside China, particularly in Mexico, Vietnam and Spain.
Zoco said, "Many international developers have already moved forward with procurement, fearing that China's upcoming new solar policy may affect module supply
from first-tier manufacturers in the international market.
”
Recently, Jenny Chase, head of solar analysis at BloombergNEF, said the global average module price is currently around 23-26 cents
per watt.
"Due to oversupply, we expect a 10-15%
decline by the end of 2019.
The average price paid by developers of utility-scale plants is about 23 cents
.
”
