BNEF hedging bets on China’s solar installations in 2018

January 17, 2018
Facebook
Twitter
LinkedIn
Reddit
Email
BNEF is fairly bullish on global solar installations surpassing 100GW in 2018.

Bloomberg New Energy Finance (BNEF) is forecasting global PV demand in 2018 to be at 107GW, up from its estimate of 98GW in 2017. However, BNEF has given the largest single market China a wide installation range after its massive underestimation last year. 

BNEF is fairly bullish on global solar installations surpassing 100GW in 2018, despite uncertainty over the US market and the pending Section 201 case now in the hands of the US President. 

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The market research firm believes a number of emerging markets such as Mexico could become more than a 3GW market in 2018, while MENA region countries such as Egypt, the U.A.E. and Jordan combined could have installations in the range of 1.7GW to 2.1GW in 2018. 

However, BNEF has put China installations in the wide range of 47GW to 65GW, after earlier forecasting only 30GW in 2017, while official figures are set to exceed 50GW. BNEF’s most recently revised 2017 forecast for China expects 53GW of installations.

BNEF believes that the scale of solar installations in China, are ‘fundamentally irrational’ as government set payment mechanisms for generated electricity seriously lag installations. 

Interestingly, leading ‘Silicon Module Super League’ (SMSL) member JinkoSolar, which had said throughout 2017, that the China market would be around 50GW, recently noted in its third quarter 2017 earnings call that it expected demand in China to be in the range of 40GW to 45GW in 2018. 

However, JinkoSolar also noted that the rapidly growing unregulated Distributed Generation (DG) market could push installations significantly higher, noting that its forecast was the minimum expected and the ‘X Factor’ was the DG market as install figures were 7GW to 8GW in the third quarter of 2017, potentially accounting for around 30GW in 2018. 

Read Next

April 9, 2026
Italy is the most attractive European country for solar development, according to the chief of staff of German independent power producer (IPP), Encavis.
Premium
April 9, 2026
PV Talk: JP Kock of IPP Encavis discusses why the competitive landscape of Europe's solar market is in store for a shake-up.
April 8, 2026
kWh Analytics subsidiary, Solar Energy Insurance Services, has launched a data-sharing initiative that rewards renewable energy assets for efforts in extreme weather mitigation.
April 8, 2026
Turkey must deploy around 8GW of new capacity annually to meet its 2035 target of 120GW of installed solar and wind, a new report says.
April 8, 2026
The world added more than 200GW of new utility-scale solar PV capacity in 2025, according to figures from Wiki-Solar.
April 8, 2026
PV manufacturing capital expenditure is expected to rebound this year, following two years in the doldrums as the industry weathered a global oversupply of modules, new figures show.

Upcoming Events

Solar Media Events
April 15, 2026
Milan, Italy
Solar Media Events
June 16, 2026
Napa, USA
Solar Media Events
October 13, 2026
San Francisco Bay Area, USA
Solar Media Events
November 3, 2026
Málaga, Spain
Solar Media Events
November 24, 2026
Warsaw, Poland