SPE latest report: There will be 20 gigawatt-level markets in 2021, and the world’s new photovoltaic will exceed 200GW for the first time in 20223-10, 2022 / By MUST Power
As one of the most authoritative photovoltaic analysis institutions in Europe, Solar Power Europe recently released the 2021-2025 photovoltaic market report. It is estimated that there will be 20 global photovoltaic markets above the gigawatt level in 2021, of which China, the United States and India will still be the TOP3. The annual new installation volume is expected to reach 163.2GW. In 2022, it will be the world’s first year to exceed the installed capacity of 200GW. By 2025, the annual global installed capacity will reach 266GW. It is optimistically estimated that all photovoltaic power plants in operation will exceed 2TW.
2021-2025, many records will be broken!
In the first half of 2021, despite repeated epidemics, shortages of silicon materials, and rising freight costs, new projects have been restricted, but with the provision of vaccination rates and the increase of silicon material production capacity, these main influencing factors will gradually weaken. SPE predicts that this year’s global installed capacity will reach 163.2GW, an increase of 18% over last year. At the same time, 20 countries and regions around the world will reach gigawatt-level installed capacity. Compared with last year, most key markets maintained their growth momentum. Five new markets including Denmark, Greece, Turkey, UAE and Canada replaced Ukraine, South Africa and Belgium last year.
2022-2025 will be an excellent period for global photovoltaic development. Especially in 2022, it will stand out in all aspects. According to the medium-term forecast, the global installed capacity this year will reach 203GW, which is the first time that the annual installed capacity has exceeded the level of 200GW, two years earlier than the original forecast.
According to SPE’s mid-term forecast, by 2025, cumulative global off-grid photovoltaic installed capacity will maintain double-digit growth. Several more mature off-grid markets: Kenya, South Africa and Tanzania, the growth rate may be higher.