Global solar installations to surpass 60GW in 2016 with Asia dominating – SolarPower Europe

Facebook
Twitter
LinkedIn
Reddit
Email
Global solar PV market scenarios up to 2020. Credit: SolarPower Europe

Solar PV installations are expected to surpass 60GW worldwide in 2016, up from the 50.6GW deployed last year, according to the latest figures from SolarPower Europe.

The 'Global Market Outlook for Solar Power 2016-2020' report saw significant increases in forecasts for all solar segments, residential, commercial and utility-scale, compared to last year’s forecasts.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

SolarPower Europe now expects roughly 516GW of grid-connected solar power by the end of 2019, instead of 450GW from last year’s predictions. Ultimately, in the best case scenario, even a total of 716GW is possible by 2020.

Asia is the stand out driver, with just two markets, China and Japan, accounting for more than half of all installations last year, driven by feed-in tariffs and utility-scale power plants. Such dominance by Asia is expected to continue over the next five years, especially with India entering the top five markets for the first time this year.

The report stated: “Whichever path the development of solar will take in the next five years between the two boundaries of the low and high scenarios, there is little doubt that Asia’s market dominance will prevail. While its market share exceeding 60% today – will slightly decrease as the Americas and Middle East/Africa gain traction – in any case Asia should absorb over half of the new PV installations in 2020.”

China, particularly continues to push the market, having installed 7GW just in the first quarter this year, and having overtaken Germany as the country with the largest PV deployment capacity. In April China had more than 50GW installed cumulatively.

The third biggest market, the US, actually grew below average global growth rates, increasing 18% up to 7.3GW from 6.2GW in 2014.

Europe had a strong year in 2015 growing 15% year-on-year with 8.2GW of newly grid-connected PV, its first upward trend since 2011. However the report noted that after this 2015 European uptick, It is highly probable that demand on the Continent is slowing again in 2016.

Credit: SolarPower Europe

Tariffs

After a year of record-breaking low solar tariffs in specific regions, the report stated: “2016 will be remembered in the renewable energy history books as the year solar became cheaper than onshore wind power.”

Even though solar is now cheaper than retail electricity in many countries, with many heads turned by the US$0.029/kWh tariffs touted in a recent Dubai solar tender, SolarPower Europe stressed that simple cost comparisons are inadequate given the variable nature of renewable power output in electricity markets that were designed for centralized, dispatchable power generation.

It added: “A stable regulatory environment taking into account the needs of renewable energy remains key to tap the gigantic potential of solar power.”

Manufacturers

The report said that the cost of solar modules is coming down faster than most experts have anticipated and this trend is continuing.

A key trend of 2015 was the movement of major PV cell and module manufacturers into Asian countries besides China, such as Malaysia, Vietnam, Thailand – with India expected to profit from the next wave of investments.

Similarly, Western processing material manufacturers are increasingly moving to, or are expanding in Asia to get closer to their customers.

Other highlighted trends included the increasing number of utilities coming on board to the green energy market and foraying into solar, meanwhile large companies such as IKEA and Unilever are boosting the commercial segment. Meanwhile, community solar which has been largely conceptual until now may start to take off in the coming years.

11 March 2025
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.
17 June 2025
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 17-18 June 2025, will be our fourth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2026 and beyond.
7 October 2025
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 7-8 October 2025 is our third PV CellTech conference dedicated to the U.S. manufacturing sector. The events in 2023 and 2024 were a sell out success and 2025 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

Read Next

February 18, 2025
Chinese solar manufacturer Tongwei has ended its plan to acquire a controlling stake in fellow Chinese manufacturer Runergy.
February 18, 2025
Sunnova said the job cuts are part of “an optimisation of its business" and the cuts will save around US$35 million.
February 18, 2025
Chinese solar manufacturer LONGi has filed a lawsuit in the US District Court for the Eastern District of Texas against Jinko Solar.
February 17, 2025
Round-up of community solar news with new legislations progressing in the US states of Missouri and Iowa, while New Mexico started construction on the first project in the state.
February 17, 2025
Lee Zeldin said the EPA should "reassume responsibility" for funds issued under the Greenhouse Gas Reduction Fund.
February 14, 2025
Nozomi Energy has appointed Shizen Operations, a subsidiary of the Shizen Energy Group, to manage a 312MW solar portfolio in Japan.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 19, 2025
Tokyo, Japan
Solar Media Events
March 11, 2025
Frankfurt, Germany
Solar Media Events
March 18, 2025
Sydney, Australia