Ten trends that will shape the global solar market in 2018

Ten trends that will shape the global solar market in 2018

It’s going to be a big year for solar around the world.

The global solar market grew by 26 percent last year, with 99 gigawatts of grid-connected PV capacity installed. According to GTM Research’s new Global Solar Data Hub, 2018 will be the first-ever triple-digit year for the global solar market, with an anticipated 106 gigawatts of PV coming online.

Amid all of that growth, several notable shifts are expected to take place. The solar analysts at GTM Research have highlighted 10 trends that will shape the solar market in 2018.

Global solar tenders continue to proliferate

GTM Research counts 53 national markets where a tendering or auction scheme is currently in place, up from 32 in the second half of 2016. Furthermore, there are an additional 29 national markets where a tendering or auction scheme has been discussed or planned.

Senior Analyst Tom Heggarty notes that more than 3 gigawatts’ worth of solar tenders will be announced in the first quarter of 2018 alone.

The global market is diversifying, but large countries still dominate

China, the U.S., India and Japan will continue to dominate demand in 2018, but their share of overall global market will shrink from 82 percent in 2017 to 72 percent in 2018. The number of countries installing 1 gigawatt or more annually will grow from nine to 14 over the course of these two years.

Source: ReNew Economy

Date: March 2018

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