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IHS Markit: Global PV installed growth of 18% in 2019

Time:2019-10-16 17:25:53 View:712

According to a recent report by IHS Markit, the global annual PV installed capacity is expected to increase by 18% in 2019, reaching an annual power generation of 123GW.

Of the estimated total, two-thirds of installed global PV capacity will come from sources outside of China, and several new or growing markets around the world are expected to receive significant gains.

Overall, Argentina, Egypt, South Africa, Spain and Vietnam accounted for 7% of total installed capacity in 2019, with a total demand growth rate of 7 GW. In 45 different national markets, the total annual PV installations have increased by more than 20%.

In the United States, PV installed capacity is expected to increase by 28% year-on-year, and developers hope to have a significant impact on their respective pipelines by the December 2019 Investment Tax Credit (ITC) deadline. A larger share of the pipeline will only be carried out through the module shipment phase, which meets the safe harbor requirements and extends 30% of the ITC if at least 5% of the components have been purchased for the project.

IHS Markit expects limited capacity announcements throughout the supply chain, which directly leads to an increase in average utilization of all nodes next year. Although the module price fell in the second half of 2018, exis