Beijing/Brussels/Madrid/Tokyo: The PV Market Alliance releases today its third annual Global PV Market Report.
According to the PV Market Alliance (PVMA), global PV markets should double during the next five years, reaching between 180 and 200 GW from 2022 in a more diversified market. Although a significant level of uncertainty prevails, the current transition period in China will not produce significant effects after 2020 and the PV market will continue its solid growth.
PVMA anticipates that market demand will remain bullish, mainly driven by a continued strong growth in India, Europe, and many emerging markets on all continents. On the short term, the effect of the transition period in China will lead to a market stagnation in the best case, with a possible decrease in 2018. However, outside of China, the growth will be important, with a 2018 market above 60 GW against 45 GW in 2017. From 2019 onwards, the market should reach the 100 GW threshold and continue growing.
The market will continue to diversify, with distributed applications growing in share, while new market segments will start to contribute significantly: floating PV, agricultural PV, but also BIPV and VIPV (PV for vehicles) will complement the existing ground-mounted and BAPV plants. Off-grid will remain marginal in volume while large-scale off-grid will grow, especially in Africa. New applications could represent up to 25% of the global PV market from 2022.
Combining an intimate knowledge of the market with thorough understanding of policy developments in both mature and emerging PV markets, the PVMA’s report constitutes one of the most reliable global PV market analyses available to date. Covering an in-depth regional perspective and detailed analysis of more than 40 individual PV markets, the report provides comprehensive insights allowing understanding and anticipating future PV global market developments, featuring different scenarios according to international trade and energy conditions.
Note to editors
The “PV Market Alliance” was established in 2014 and groups well-known regional PV and energy experts from China, Europe, Japan, Latin America and the US, covering the global PV market.
The “PV Market Alliance” includes:
- Asia Europe Clean Energy (Solar) Advisory Co. Ltd. (AECEA), Hong Kong, China
- Becquerel Institute, Brussels, Belgium
- Creara (formerly Eclareon Spain), Madrid, Spain
- RTS Corporation, Tokyo, Japan
Source: pvmarketalliance
