Report: New Global Solar Capacity Reaches Record High This Year

LONDON (Reuters) – The capacity of new solar PV plants is expected to hit a record this year thanks to improved markets in Europe and the United States and rapid growth in India and Vietnam, Wood Mackenzie said.

The low prices proposed should also contribute to the new solar photovoltaic capacity of 114.5 gigawatts, up 17.5% from 2018, the first time the new capacity exceeds 100 gigawatts.

Last year, the new capacity decreased slightly, mainly due to the slowdown in China, the largest photovoltaic market in the world, which ended up supporting new projects.

"The market is once again on the road to strong growth, the slowdown of 2018 being only a temporary stumbling block, and we expect the accumulated annual volume to rise to around 125 gigawatts in the early 1920s, "said Wood Mackenzie badysts.

High expectations for this year have been supported by strong support from Europe, particularly from Spain, the United States, India, Vietnam, Egypt and the United Arab Emirates.

Growth will boost countries with capacities of 1 to 5 megawatts per year. Last year, there were seven of these markets. According to the report, by 2022, there will be 19 markets, including France, Saudi Arabia and Taiwan.