Global solar market: record growth by 43 percent – U.K. saw record installations in Q1 2016, but now declining says GTM Research
With new installations of 26.4 GW China leads the pack in 2016. Second largest market are the U.S. with 14.5 GW. Third rank has Japan with 10.2 GW new installations, followed by India with almost 6 GW according to GTM numbers.
Policy turmoil in several large markets
Although the prospects for 2017 are damped. GTM expects a slowdown of the global PV market with a drop by 10 percent. “The slowdown is tied to the policy turmoil in several large markets – China, Japan and the U.K. – even as the other two key markets the U.S. and India, grow at triple-digit-rates”, Mohit Anand, Senior Analyst Solar said.
Commercial PV will breach cap again in UK in Q3
According to GTM Research the U.K. experienced a record-breaking first quarter, with 1.5 gigawatts installed in advance of the expiration of Renewable Obligation Certified incentives. But that trend will not continue. GTM expects a major drop in demand for the remainder of the year. in Q3 residential PV will likely install lower than the quarterly cap, though commercial PV will breach the cap again.
Markets are diversifying
Global demand is further diversifying GTM forecasts as large scale solar auctions and net metering programs are picking up beyond the current top three markets. By 2021 more than 20 countries will offer more than 2 GW of cumulative PV demand. (HCN)