A new report by the consulting firm IHS Markit suggested that the strong demand from China has already the 10th year in a row led the growth of the global photovoltaic sector.
“The proposed cuts feed-in tariff in China, published in September, resulted in stronger growth in the photovoltaic sector in the fourth quarter,” emerge from the consulting firm.
Markit IHS predicts that global demand growth of only 3 percent in 2017, due to the fall of the photovoltaic installation on the two largest markets in 2016, China and the United States.
From this firm predict that in the next two years will be noted single-digit growth of the installation of the photovoltaic before the stronger recovery of the market in 2019.
China also lowered its minimum target for solar installations by 2020 from 150 GW to 110 GW. Reduction of ambition reflects the predictable decline of growth installations in 2018, followed by a relatively uniform demand in the coming years. Despite the decline in installations, the demand will be sufficient for reaching and exceeding the target that you China is set enough for China to exceed its target and reach 169 GW of total installed capacity of PV by 2020.
In the meantime, India during 2017 will become the third largest market for photovoltaics and thus overtake Japan.
India’s solar market rapidly matures and maximize low-cost global PV. India is currently the fourth largest market for photovoltaics with the projected annual demand of 5.8 GW. Japan is currently in third place with 8.7 GW of new installed capacity in 2016.