Global Market Outlook 2018-2022: Solar Market Growth Continues
SolarPower Europe today launched the ‚Global Market Outlook for
Solar Power 2018-2022.‘ The report confirms that 2017 was another outstanding year for
the solar sector and that growth will continue for the coming five years. The world installed
99.1 GW in 2017 and is anticipated to exceed the 100 GW level in 2018. SolarPower Europe
estimates that solar is on course to add another 621.7 GW by 2022.
Christian Westermeier, President of SolarPower Europe, said: „2017 was another historic
year for the solar sector. More solar PV capacities were installed globally than any other
power generation technology. Solar saw more new capacity deployed than traditional
energy generation sources combined, and added almost twice as much capacity as wind.
Solar is on a winning streak and on its way to become the dominant energy source of the
21st century“.
James Watson, CEO of SolarPower Europe, said: „More countries are banking on solar, this
is great news for our technology. Now is the time to make sure we create the right
regulatory frameworks for solar and storage, and all relevant technologies and remove
barriers to solar growth. We are delighted that the European Union’s three legislative
institutions – the Commission, Parliament and Council – recently agreed on a 32% 2030
renewables target and empowered citizens, companies and communities with the right to
produce, consume, store and sell power without being subject to punitive taxes or excessive
red tape. That’s the right direction – and what we’ve been working towards.“
He added „Conversely, the solar import tariffs we see in Europe, the US and other countries
are detrimental to the deployment of solar today and simply add unnecessary costs to
consumers and society at large. These need to go as soon as possible.“
Michael Schmela, Head of Market Intelligence at SolarPower Europe, commented „Global
solar market demand in 2017 was driven by China. For the first time, China installed more
than half of the world’s solar capacity in only one year (53.3%). Solar’s cost-effectiveness
has attracted many countries to look seriously into this unique, flexible and distributed clean
power technology. While in 2016, only seven countries installed over 1 GW, in 2017, the
number has increased to nine, and is expected to reach 14 in 2018.“
Michael Schmela further explained „Europe’s performance has improved, adding 9.2 GW in
2017, a 30% increase compared to the 7 GW installed the year before. The European growth
is primarily a result of Turkey’s gigantic growth. When looking at the 28 members of the
European Union, there is little growth: the EU-28 added 5.91 GW in 2017, compared to 5.89
GW in 2016. This result stems from the UK’s ’solar exit‘ in 2016, which halved new
installations in 2017. However, 21 of the 28 EU markets added more solar than the year
before.“
Driven by the national binding 2020 renewable targets and the recent solar tenders,
SolarPower Europe foresees that the EU will return to strong growth in the coming years –
with a 45% growth rate expected for 2018 and 58% in 2019.
SolarPower Europe foresees continued global solar market growth until 2022. The Global
Market Outlook Medium Scenario anticipates about 3.5% market growth to 102.6 GW new
solar PV capacity additions in 2018, despite the recent subsidy cut announcement from China
to restructure its solar incentive programmes, which is expected to result in less new
installation capacity than the year before, reaching around 39 GW in 2018.
All Global Market Outlook 2018 scenarios show stronger growth than in the previous report
editions. In 2017, SolarPower Europe assumed a cumulative installed capacity of 471 GW for
the Medium Scenario in 2018, this year it forecasts 505 GW, which is about 7% higher.
SolarPower Europe estimates a total installed solar power capacity of 871 GW as the most
likely scenario in 2021 – that’s around 13% higher than last year’s forecast.
Michael Schmela added „While in our Medium Scenario we expect the world’s solar power
generation capacity will reach the terawatt era in 2022, according to our High Scenario this
level could already be reached a year earlier. However, as more and more policy leaders and
investors are beginning to understand the benefits offered by low-cost flexible and
distributed clean solar, solar will undoubtedly continue to surprise us positively in the coming
years.“
Download Global Market Outlook for Solar Power 2018-2021
About SolarPower Europe
SolarPower Europe is a member-led association representing organisations active along the
whole value chain. Our aim is to shape the regulatory environment and enhance business
opportunities for solar power in Europe.
About the Global Market Outlook
The Global Market Outlook is the flagship publication of SolarPower Europe. Produced inhouse
by SolarPower Europe’s market intelligence team and with the support of its members
and the Global Solar Council, the report provides forecasts on solar market developments
and trends for the coming 5 years. SolarPower Europe cooperates with the Global Solar
Council for this report. This year, we have invited national associations from GW-level
markets to provide overviews on their local markets.
Source: SolarPower Europe, 19 June 2018
www.solarpowereurope.org
s. European Solar Market Grows 28% in 2017
s. European solar market grows 15% in 2015; connecting 8 GW of solar power to the grid
compare to: 2015: A positive year for solar
