IHS Markit has issued a new whitepaper analysing the top eight trends shaping the global solar pv market in 2019.
The research firm says a total of 34GW of global PV installations will be completed in the fourth quarter of 2019 alone, exceeding the current quarterly installation record of 28GW set in the final quarter of 2018.
The top trends include:
- Global PV installations will return to double-digit growth
- European PV demand will return to 2012 levels – corporate PPAs play a growing role
- Revamping and repowering of PV plants will grow in importance as the installed base in Europe ages.
- China’s policy decisions will continue to define global dynamics
- More than 500MWh of batteries will be deployed in utility-scale solar plants in North America
- Diversification of PV inverter suppliers to continue as they continue to battle against stagnating revenues
- The race for the 400W PV module will heat up as high efficiency products gain share of the market
- There will be 11 million new connections to the Internet of energy from solar systems in 2019
The report states that 2019 will be the first year since 2011 that annual solar pv installations will grow in all six global regions.
The six regions will contribute to the anticipated 18% year-on-year growth of the global solar pv market.
About 90 countries are expected to increase their portfolios of solar pv The increase in the global solar pv market is attributed to government policies on carbon emissions reduction, growing energy demand and continued decreases in solar pv and inverter prices.
Solar PV module prices fell 32% and average PV inverter prices by 18% in the past two years.
The whitepaper is available for download here...