World PV Installer Will Reach 129GW in 2019
According to IHS Markit, the global photovoltaic market will rebound from a single-digit growth in 2018 to 25% in 2019, reaching 129GW of installed photovoltaic capacity.
IHS said that the growth of this recovery mainly comes from markets outside China, including some countries that are expected to grow 43% in 2019.
The drop in component prices at the end of 2018 led to increased demand. Some national projects, including Spain and Vietnam, have a deadline of 2019, further stimulating the market prosperity in 2019.
China's Prospect Is Highly Uncertain
China is the largest photovoltaic market in the world. After reaching 45 million kilowatts in 2018, it is expected to grow by 2% in 2019. IHS Markit's latest photovoltaic installation tracking data show that most of the installations will take place in the second half of the year.
"At present, China's prospects are still highly uncertain because the new photovoltaic subsidy plan has not yet been announced," IHS Markit analysts said. "The plan to place more policy on non-subsidized photovoltaic systems may slow down the recent deployment unless strict construction deadlines are imposed to stimulate demand in 2019."
The United States will overtake India
It is expected that the United States will surpass India in 2019 and once again become the world's second largest photovoltaic market. With the 30% investment tax credit (ITC) ending this year, some projects will be completed in a hurry.
However, the Safe Harbor Regulation issued in 2018 also postponed the planned installation time in 2019 from 2019 to the next few years. The regulation requires 5% investment before the end of 2019 to enjoy the full ITC tax rate.
Analysts believe: "More and more project development activities show that the years after 2019 will be prosperous."
India, at a time when spare parts are becoming more expensive due to safeguard tariffs, lowering bid prices has delayed several bids and may shake India's future solar photovoltaic market.
Europe Increases Over 7GW
After the end of the lowest import price for photovoltaic modules, Europe has seen the biggest increase in the past year. The installed capacity increased 23% to 12GW in 2018 and is expected to exceed 19GW in 2019.
Source: Polaris Solar Photovoltaic Network