According to a recent report released by IHS Markit, annual global PV installations in 2019 are expected to rise by 18%, reaching a generation capacity of 123GW on the year. Image: IHS Markit
According to a recent report released by IHS Markit, annual global PV installations in 2019 are expected to rise by 18%, reaching a generation capacity of 123GW on the year.
Of that estimated total, two-thirds of the installed global PV generation capacity will come from sources outside of China, while several new or growing markets across the globe are expected to see major gains.
All together, Argentina, Egypt, South Africa, Spain and Vietnam represent 7% of total installations in 2019, along with 7GW of total demand growth. In total, annual PV installations are growing by more than 20% in 45 different country markets.
Within the US, PV installations are projected to grow by 28% year-on-year, with developers looking to make a major dent in their respective project pipelines before the December 2019 deadline for the 30% investment tax credit (ITC). A larger share of that pipeline will only be worked on through the module-shipment phase, which meets the safe harbor requirements that extend the 30% ITC if at least 5% of the components have been procured for the project.
IHS Markit expects limited capacity announcements across the supply chain, directly leading to higher average utilization rates across all nodes next year. While module prices dropped in the second half of 2018, existing strong demand outside of China, especially in markets such as Mexico, Vietnam, Spain, have cut into price erosion fears for shipments in the first half of 2019.
Connecting finance and development to secure $45 billion worth of solar and storage opportunities in Asia. Contact Chris Hugall for sponsorship and exhibitor options.
The Intersolar organizers have teamed up with SolarPower Europe and Spanish Solar Association, UNEF, to shed light on Europe's new solar boom market – Spain. Intersolar Summit Spain takes place in Barcelona on June 18, 2019. We are going to discuss the PV market development in Spain, the chances and opportunities of the announced grid parity, corporate sourcing models, regulation and policy issues. The event will bring together the key stakeholders in this market, which is being driven by auctions and increasingly by subsidy-free corporate sourcing of solar power.