Bloomberg New Energy Finance (BNEF) has forecasted global solar demand in 2019 could increase by as little as 15% in 2019, reaching 125GW of new installations, up from preliminary forecasted and revised figures of 109GW for 2018.
According to provisional data from BloombergNEF (BNEF), global solar PV installations reached 109GW in 2018 as the cost of installing a megawatt of photovoltaic capacity fell 12%, which spurred markets outside China to increase installations.
The global energy storage market will grow to a cumulative 942GW/2,857GWh capacity by 2040, attracting US$620 billion in investment, caused by sharply decreasing battery costs, according to a Bloomberg NEF (BNEF) report.
Wind and solar could provide half of the world’s energy generation by 2050 on the back of continually declining technology costs, particularly in battery energy storage, according to a new report from Bloomberg New Energy Finance (BNEF).
According to market research firm IHS Markit, solar PV installations in 2018 are expected to reach 105GW, an 11% increase over the prior year when installations topped over 96GW, despite an expected decline in China, due to the sudden capping of growth by new government policies.
According to Bloomberg New Energy Finance (BNEF), the global average selling price (ASP) of solar modules is expected to decline by 35% in 2018, compared to previous forecasts of a 20% to 27% decline, due to the Chinese government curtailing solar growth through new policies initiated last Friday.
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.
Bloomberg New Energy Finance (BNEF) has reported that Global solar investments topped US$160.8 billion in 2017, an 18% increase over the previous year and importantly, despite capital costs declining around 25%.
Rooftop PV is the fastest growing renewable energy sub-segment in India, with individual system sizes increasing and the C&I sector maturing, but a new report by Bloomberg New Energy Finance (BNEF) predicts that India will still only reach 9.5GW out of its 40GW target by 2022.