2020 Photovoltaic Market Forecast

(PV-Tech)Nowadays, International Energy Structure (IEA) indicates the latest report. According to the report statistics, the capacity of global PV installation and cumulative installation was 14.9GW and 627GW respectively in 2019.

The report showed that the quantity of China photovoltaic installation market appeared a two-year decline, which from 53GW in 2017 to 43.4GW in 2018. What’s more, in 2019, it further declined to 30.1GW.

On the contrary, the PV installation of markets outside of China raised from 58.8GW in 2018 to 84.9GW in 2019 whose growth rate is 44%.Among them, the installation of EU was about 16GW and the other areas in Europe was about 5GW.

In 2019, the biggest photovoltaic installation market in Europe were Spain(4.4GW),Germany(3.9GW),Ukraine(3.5GW),Netherlands(2.4GW) and France(0.9GW). With further research, we can find that all of these countries have experienced brilliant years of growth that emerge a large requirement of installation project.

American market has had a little increase which experienced rapid growth up to 13.3GW in 2019 and the proportion of PV installation in public utilities was 60%.Spain became the second biggest market in America which installation capacity is approximately 2.0GW;then Mexico which capacity is about 1.0GW.

The growth in Chile was steady which the installation was 700MW; in Argentina , it hit a historical high with 500MW. Canada market was relatively sluggish which the installation of whole year was only 200MW. In 2019, America accounted for 16% of global photovoltaic market.  

Another significant market­——India also showed a slightly decline, the PV installation of whole year was approximately 9.9GW with 1.1GW among them were distributed projects and off-grid projects.

The installation in Japan ranked fifth which was about 7GW. Besides, some markets with bright performance like   Vietnam(4.8GW),Australia(3.7GW),Korea(3.1GW),UAE(2.0GW),Egypt(1.7GW),Taiwan(1.4GW),Israel(1.1GW) and Turkey(0.9GW) were becoming new mainstream markets.

Asia continued to be the master of global photovoltaic market. Six of top10 global installation countries in 2019 were in Asia, which were China, India, Japan, Vietnam, Australia and Korea; three of them were in Europe, which were Spain, Germany and Ukraine. The remaining one was America.

Before this, another international structure IRENA has also published related data. According to it, solar energy installation capacity in 2019 was 98GW, forming a contrast to data providing by IEA and some consultant companies.

The data reported by Bloomberg New Energy was 118GW (including 8GW buffer volume) and the figure reported by HIS Markit was 120GW.During the PV Tech interview, these data difference was attributed to AC-DC report difference by an analyst.


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