The Global Solar Photovoltaic (PV) market is growing rapidly as is evident from the annual addition since 2010. The average annual addition during 2010-2018 was 52 GW. Reduction in costs of PV due to an increase in competition, emergence of PV in new and upcoming countries in South America, Middle East & Africa and APAC regions will drive the global solar PV installations during 2018-2030. It is expected that the global solar PV market will reach 1,082GW by 2025 and 1,516GW by 2030.
APAC remains the leading region in the Global Solar Photovoltaic (PV) market with a share of 58.3% in the global cumulative solar PV capacity in 2018. Asia-Pacific (APAC) will continue to lead the Global Solar Photovoltaic (PV) market over the next seven years due to abundant availability of solar energy in the tropical countries and government support in countries such as China, India, Japan and Australia.
China, which is the largest market for PV in the world, has witnessed a declining trend in annual additions in 2018. The country’s annual additions are expected to decline in 2018 to around 42GW from 53.1GW in 2017. However, the country will continue to dominate the global PV market and will continue install the highest PV capacities than any other country during the forecast period.
Countries such as India and Japan have taken up auctions to increase the market uptake for solar PV, leading to cost competitiveness, and encouraging state-owned distribution utilities to award PV projects through a bidding route. Auctions allow policymakers to control both the price and quantity of PV energy by providing stable revenue guarantees for project developers while ensuring that the renewable generation target is met more precisely. Against this backdrop, many new and emerging PV markets have taken up the auctions route to increase their PV market uptake.
The report ’Solar Photovoltaic (PV) Market, Update 2018,’ reveals that strong demand for PV in countries such as China, the US, India, Japan, Germany and Australia will drive global solar PV installations to cross 1,000 gigawatt (GW) of cumulative capacity by 2025.
"Solar Photovoltaic (PV) Market, Update 2018 - Global Market Size, Market Share, Average Cost, Major Trends, and Key Country Analysis to 2030", is the latest market analysis report offering comprehensive information and understanding of the solar PV market.
The report provides a clear overview of and detailed insight into the global solar PV market. It explains the key drivers and challenges affecting the market and provides data covering historic and forecast market size, average cost, installed capacity and generation globally, and in twelve key wind power markets - China, India, Japan, Republic of Korea, Australia, US, Canada, Mexico, Germany, UK, Turkey and Spain.
- Solar PV market study at global level and at key country level, covering countries such as China, Japan, India, Australia, Republic of Korea, US, Canada, Mexico, Germany, UK, Turkey, and Spain.
- Coverage of the key growth drivers and challenges related to each country’s solar PV market, and the global market’s influence on the environment and economy
- Historic (2006-2017) and forecast data (2018-2030) for cumulative and annual installed solar PV capacity
- Market share of the solar PV module manufacturers in 2017
- Market size data at key country and global level.
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The report will allow you to -
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- Maximize potential in the growth of the solar PV market
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