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Utility-Scale Solar to Add 140 GW of New Capacity This Year

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Electricity grids around the world are expected to add 140 gigawatts of new photovoltaic solar capacity this year, a 15% increase over 2019, according to analysis released last week by IHS Markit.

“Another year of double-digit global demand growth in 2020 is proof of the continued and exponential growth of solar PV installations in the last decade,” said Edurne Zoco, the company’s director of clean technology and renewables. The study also points to a substantial gain in PV’s geographic reach, with the number of countries with at least one gigawatt of installed capacity increasing from seven to 43 since 2010.

“If the 2010s were the decade of technology innovation, steep cost reductions, large subsidies, and dominance by a few markets, then 2020 marks the decade of emerging unsubsidized solar, diversification, and expansion of solar installation demand across the globe, new corporate entry players, and increasing competitiveness versus conventional energy sources,” Zoco said.

While IHS sees China accounting for an “outsized share” of the market, writes Recharge News, Zoco said the sector’s “over-reliance” on China “will continue to decrease in coming years as more capacity is added elsewhere.”

The United States, led by California, Texas, Florida, North Carolina, and New York State, is expected to maintain its position as the world’s second-biggest solar market, with 20% growth this year.

The post Utility-Scale Solar to Add 140 GW of New Capacity This Year appeared first on The Energy Mix.

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Discussions

Joe Deely's picture
Joe Deely on Jan 21, 2020 5:08 am GMT

Good progress but we need to get this up to 250 GW/yr.  

Matt Chester's picture
Matt Chester on Jan 21, 2020 3:02 pm GMT

Given this quote:

While IHS sees China accounting for an “outsized share” of the market, writes Recharge News, Zoco said the sector’s “over-reliance” on China “will continue to decrease in coming years as more capacity is added elsewhere.”

Where across the globe do you see as most critical to pick up the pace to get to the 250 GW/yr? Surely the U.S. isn't doing enough, but are there other notable hubs you're keeping an eye on?

Joe Deely's picture
Joe Deely on Jan 23, 2020 2:32 am GMT

New markets plus steady growth in existing markets. I would add Africa to comment below.
 

“China will remain in the preeminent position as the overall leader in solar installations. But this decade will see new markets emerging in South East Asia, Latin America and the Middle East,” said Zoco “Still, the major markets will continue to be critical for the development of the solar industry, especially as test beds of technological innovation, policy development and new business models.”

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