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GTM: Global Solar Energy Capacity Will Exceed 104GW In 2018
May 04, 2018

Polaris Solar Voltage Network News: GTM Research recently released a new analysis that predicts that the global solar energy capacity will exceed 104GW in 2018, and will continue to add more than 100GW per year at least until 2022.

After installing 98.9 GW of global solar capacity in 2017, most analysts expect the world's new photovoltaic installed capacity to exceed the 100 GW mark for the first time in 2018. In January, Angus Mc Crone, chief editor of Bloomberg New Energy Finance, predicted that the new solar energy capacity will reach 107GW in 2018, while Trend Force's Energy Trend predicted that the global solar energy market will increase by 106GW. Last month, IHS Markit analysts predicted that global solar demand would reach 113GW this year, in part because of a massive increase in 34 GW capacity in the fourth quarter of last year.

GTM Research released its latest Global Solar Demand Monitor last month, forecasting that it will install 104GW of solar energy in 2018, at an annual growth rate of 6 per cent. In addition, GTM predicts that additional capacity will easily exceed 100GW per year by at least 2022.
More interestingly, though, GTM expects annual growth to be at least partly attributable to geographic diversification, which will compensate for a 7 per cent fall in the four largest markets. Specifically, GTM expects China's new solar energy capacity to fall by 9.4 per cent in 2018, although the country will still account for 47 per cent of global demand. The U.S. market will remain stable this year, while India's new solar capacity is expected to fall by about 26 %, while India recorded capacity growth in the first quarter of this year.
According to reports, the United States market is expected to increase its photovoltaic cell capacity by 10.6 GW in 2018, while India will install 7.1 GW photovoltaic cell capacity.

"Trade restrictions remain an obstacle to growth in the United States and India. "The United States offers duty-free modules and has announced that it will provide compensation to Indian developers who have been negatively affected by tariffs, which gives some encouragement," said Rishab Shresha, a solar analyst at GTM Research. "
As many other analysts have suggested in the past 15 months, GTM Research also believes that the diversification of the solar energy market will have geographical factors. Now many emerging countries are stepping up research and development of solar energy technologies and have reached very low costs. And the value of solar energy has been repeatedly certified around the world. Specifically, GTM Research expects Egypt and Brazil to join the GW market.
GTM Research currently projects that Latin America will increase its solar energy capacity by 5.6 GW in 2018 and 4.7 GW in the Middle East and Africa, an increase of 61 % and a staggering 281 % respectively.