The global photovoltaic market will grow by 14 percent in 2020 to 142 gigawatts of newly installed capacity. IHS Markit published this forecast on Tuesday. As in 2019, growth in the double-digit percentage range will be achieved. Compared to the worldwide expansion of photovoltaics ten years ago, this amounts to a sevenfold increase. There is also increased diversification in regional distribution. While in 2010 there were seven countries with an installed photovoltaic output of more than one gigawatt, by the end of 2020 there will be more than 43 countries, it was said.

China will remain the world's largest market for photovoltaic systems for the foreseeable future. However, according to IHS Markit, the superiority continues to decrease. Compared to the peak of more than 50 gigawatts of newly installed capacity in 2017, the 2020 extension will be significantly lower. The country is in a transition phase to establish a photovoltaic policy without funding. In addition, photovoltaics must compete more strongly with other sources of power generation in the future.

For the United States, IHS Markit expects the new build to grow by 20 percent in the coming year. This would establish the country as the second largest photovoltaic market in the world. Europe in turn almost doubled its installation numbers in 2019. The analysts expect an additional 24 gigawatts for 2020 - growth of a further five percent compared to 2019. Spain, Germany, the Netherlands, France, Italy and Ukraine will be the leading countries and account for almost two thirds of the expansion in Europe , With regard to India, the analysts explain that after a year of political uncertainties, growth can be expected again in 2020. Lower module prices and a large pipeline of projects will increase the expansion to around 14 gigawatts in 2020.

"Another year of double-digit global demand growth in 2020 is evidence of the continued and exponential growth of photovoltaic installations over the past decade," said Edurne Zoco, director, Clean Technology & Renewables, IHS Markit. "If the 2010s were the decade of technological innovation, steep cost reductions, large subsidies and the dominance of a few markets, 2020 marked the decade of emerging, unsupported solar systems, the diversification and expansion of demand for photovoltaic systems worldwide , the entry of new companies and increasing competitiveness compared to conventional energy sources. "

This article originally appeared on www.pv-magazine-germany.com , and has been republished with permission by pv magazine (www.pv-magazine.com and www.pv-magazine-germany.com)