2017 could be a “challenging year” with 65GW in a worst-case-scenario. Credit: Sunergy
Global grid-connected solar PV additions reached 75GW in 2016, a 50% year-on-year growth from 50GW in 2015, according to the PV Market Alliance (PVMA).
PVMA which launched at Intersolar Europe in 2014, published its 2016 figures in a statement today, announcing that worldwide solar has passed the cumulative 300GW mark.
However, the organisation warned that 2017 could be a “challenging year” with 65GW in a worst-case-scenario, down 13% from 2016. However, the same levels of 2016 could still be hit.
China is expected to exceed 100GW overall within 2017, having added an annual record of 34GW last year, up 26% on the prior year and accounting for 45% of the total global deployment.
The US also experienced strong growth, with an estimated 13GW, but PVMA warned of “significant uncertainties” in the coming years.
India experienced significant growth with 5GW installed in 2016, up from 2GW in 2015. The fast growing market is also expected to add up to 8-9GW this year.
In contrast, Japan experienced a slow down, deploying 8.6GW, down from 10.8GW in 2014. Further decreases are possible but at least 7.5-8.5GW are expected in 2017 under the current pipeline.
Europe installed around 6.5GW, driven by the UK, Germany, Turkey and France. The continent now accounts for less than 10% of the global share.
Emerging markets accounted for around 7GW in 2016, with strong inputs from the Americas, Asia and with the Middle East and Africa beginning to gain a foothold.
The PV IndiaTech 2020 conference will continue to bring together all key domestic and overseas stakeholders, including government bodies, investors, and the leading companies today from manufacturing to O&M and asset management. To thrive globally as a major PV power beyond 2020, India has to succeed in unlocking its potential both to manufacture and to lay claim to quality utility-scale solar farms that are providing high returns on investment to site owners.
Now in its sixth successful year, Solar & Storage Finance USA is the only event which looks at raising capital for solar, storage and collocated solar and storage projects in the USA. The conference will help delegates understand how providers are evolving propositions for storage and how they can access capital for standalone solar or storage, and co-located projects. Meet debt providers, funders, utilities, corporate off takers and blue chip energy firms with capital to invest and developers with credible pipelines.