This special interest group is for professionals to connect and discuss all types of carbon-free power alternatives, including nuclear, renewable, tidal and more.


Global Solar Installations Could Reach 209 GW This Year as BNEF Projects 13 to 50% Growth

The Energy  Mix's picture
Blog posts The Energy Mix

The Energy Mix is a Canadian non-profit that promotes community awareness of, engagement in, and action on climate change, energy, and post-carbon solutions. Each week, we scan up to 1,000 news...

  • Member since 2018
  • 716 items added with 781,490 views
  • Feb 26, 2021


New installations of photovoltaic solar capacity will reach 160 to 209 gigawatts (that’s up to 209 billion watts) this year, with booming activity in most markets around the world, Bloomberg New Energy Finance (BNEF) reported in an analysis released this week.

Even the lower-end scenario in Bloomberg’s quarterly Global PV Market Outlook “would constitute a 13% jump on 2020’s installation figure of around 141 GW, with the 209-GW figure amounting to a near 50% increase in installations,” PV-Tech writes. “Annual deployment is also expected to continue to climb over the coming years, with BNEF’s optimistic forecast expecting 221 GW to be installed in 2022 and 240 GW in 2023.”

The numbers are bolstered by “strong deployment forecasts” in both India and China, the news story adds.

Jenny Chase, BNEF’s head of solar, told PV-Tech that China is set to “hit the accelerator” on solar deployment after unveiling a 2060 carbon neutrality deadline last fall that analysts later confirmed would apply to all greenhouse gases, not just carbon dioxide. “I don’t think anyone really knows how they’re going to get to net-zero yet,” she said, “but the obvious place to start is just to build a load of renewables.”

China affirmed earlier this week that its next five-year plan, due to be published over the next month or so, will be dedicated to tackling climate change, Reuters reports.

The report shows China increasing its solar installations from 52 gigawatts last year to between 65 and 75 GW in 2021.

“Despite this level of growth, BNEF has dismissed any potential concerns around supply shortages, pointing towards ‘massive’ expansions of polysilicon, wafer, and glass capacity that have been planned,” PV-Tech says. “Numerous new facilities have been announced and new partnerships formed in order to meet industry demand. While some polysilicon bottlenecks will remain, prices for the material are expected to stabilize at around US$12/kilogram this year.”

Read More

The Energy  Mix's picture
Thank The Energy for the Post!
Energy Central contributors share their experience and insights for the benefit of other Members (like you). Please show them your appreciation by leaving a comment, 'liking' this post, or following this Member.
More posts from this member
Spell checking: Press the CTRL or COMMAND key then click on the underlined misspelled word.

No discussions yet. Start a discussion below.

Get Published - Build a Following

The Energy Central Power Industry Network is based on one core idea - power industry professionals helping each other and advancing the industry by sharing and learning from each other.

If you have an experience or insight to share or have learned something from a conference or seminar, your peers and colleagues on Energy Central want to hear about it. It's also easy to share a link to an article you've liked or an industry resource that you think would be helpful.

                 Learn more about posting on Energy Central »