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IHS Markit, a global business information consulting service, said that the global solar photovoltaic market growth rate will rebound from single digits in 2018 to 25% in 2019, and the new scale is expected to reach 129 GW
.
Much of the growth in this recovery has come from markets outside China, which is expected to grow by 43%
in 2019.
Projects in Spain, Vietnam, and other countries are expected to increase
significantly in 2019 due to the increasing demand due to the continued decline in PV costs.
Given the signs of current development activity, China, the world's largest PV market, is likely to grow by 2%
in 2019 after reaching 45 GW in 2018.
According to the latest development, most of these installations will appear
in the second half of this year.
"The outlook for China remains highly uncertain as new PV support plans have not yet been announced," said
Josefin Berg, research and analysis manager at IHS Markit.
In particular, the United States is expected to overtake India in 2019 to once again become the second largest PV market
.
With the 30% Investment Tax Credit (ITC) ending this year, some projects will rush to meet
the deadline.
Josefin Berg said, "Although the safe harbor policy implemented in 2018 may delay the completion of the project until the second half of the year, there is no doubt that the US solar PV market will usher in a boom
from 2019.
”
In India, pushing for low bid prices at a time when costs are becoming more expensive through safeguard tariffs has led to several delays in tenders and could change the future of the Indian solar PV market
.
In Europe, Europe was the region with the biggest increase in the past year after the policy of limiting minimum import prices was lifted, with installed capacity increasing by 23% in 2018 to 12 GW and is expected to increase the installed size
by more than 19 GW in 2019.
In Spain alone, a resurgent utility-scale market led to a nearly 60%
increase in installations.
IHS Markit, a global business information consulting service, said that the global solar photovoltaic market growth rate will rebound from single digits in 2018 to 25% in 2019, and the new scale is expected to reach 129 GW
.
Much of the growth in this recovery has come from markets outside China, which is expected to grow by 43%
in 2019.
Projects in Spain, Vietnam, and other countries are expected to increase
significantly in 2019 due to the increasing demand due to the continued decline in PV costs.
Given the signs of current development activity, China, the world's largest PV market, is likely to grow by 2%
in 2019 after reaching 45 GW in 2018.
According to the latest development, most of these installations will appear
in the second half of this year.
"The outlook for China remains highly uncertain as new PV support plans have not yet been announced," said
Josefin Berg, research and analysis manager at IHS Markit.
In particular, the United States is expected to overtake India in 2019 to once again become the second largest PV market
.
With the 30% Investment Tax Credit (ITC) ending this year, some projects will rush to meet
the deadline.
Josefin Berg said, "Although the safe harbor policy implemented in 2018 may delay the completion of the project until the second half of the year, there is no doubt that the US solar PV market will usher in a boom
from 2019.
”
In India, pushing for low bid prices at a time when costs are becoming more expensive through safeguard tariffs has led to several delays in tenders and could change the future of the Indian solar PV market
.
In Europe, Europe was the region with the biggest increase in the past year after the policy of limiting minimum import prices was lifted, with installed capacity increasing by 23% in 2018 to 12 GW and is expected to increase the installed size
by more than 19 GW in 2019.
In Spain alone, a resurgent utility-scale market led to a nearly 60%
increase in installations.
