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India Will Become The Second Largest PV Market In The World This Year
- Apr 19, 2018 -

India will become the second largest PV market in the world this year


India will surpass the United States this year to become the second largest photovoltaic solar power market in the world, and its installed capacity will reach 11 GW. At present, the global installed capacity of photovoltaics is 113 GW. IHS Markit said that the global fourth quarter is expected to be the largest installation period in history and is expected to reach 34 GW.

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According to IHS Markit, a market research company, India will surpass the United States this year to become the world’s second largest photovoltaic solar power market, with an installed capacity of 11 GW. The current global installed capacity of photovoltaics is 113 GW. IHS Markit said that the global fourth quarter is expected to be the largest installation period in history and is expected to reach 34 GW.


India is the second largest PV market in the world this year


Previously, IHS Markit forecasted that this year's PV installed capacity would be 108 GW. This figure is now likely to reach 113 GW, thanks to China's significant growth in the distributed photovoltaic field.


China still continues to lead the market with 47% market share of 53 and 60 GW, and the two installation peaks are expected to be in the second and fourth quarters before the tariff cut.


At the same time, India will replace the United States this year to become the second largest PV market in the world. Prior to the collection of tariffs, more PV installations will arrive in India. IHSMarkit learned that this year India is expected to install 11 GW of photovoltaic power generation equipment, which is more than 11 GW of U.S. electricity. However, in the wake of the recent trade conflict, India installed only 6 GW of power generation equipment in 2018, which is a decrease from 9.3 GW in 2017.


Polaris Solar PV Network learned that if the above data is accurate, this will be the second time in a year that the United States has been “rolled” in the field of photovoltaic equipment installation. Before that, according to GTMResearch, a market research agency, Latin America has surpassed the United States to become 2017. The largest photovoltaic installation market.


In addition, emerging markets will also increase the installation of photovoltaic power generation devices this year. In particular, Mexico and Egypt will replace South Korea and the United Kingdom and rank among the top 10 photovoltaic solar energy markets, which account for 1.8% of the global market and 1.3% of the photovoltaic market.


In total, the total installed capacity of the top 10 countries in the PV market is 92 GW. The new top ten are: China, India, the United States, Japan, Australia, Germany, Mexico, Brazil, Turkey, and Egypt.


Despite recent increases in import tariffs, the United States has continued to import PV installations. In emerging markets, large-scale photovoltaic projects in countries like Egypt, Brazil, and Mexico require large deployments of units, but due to price reasons, the installation progress has been delayed in 2017 and this project will be promoted this year.


Europe expects to install 11 GW of photovoltaic power generation equipment in 2018, compared to 9 GW in 2017, indicating that the remaining 102 GW will be installed in the world's leading solar photovoltaic area. In addition, the Spanish market is expected to become the fifth largest PV market in Europe this year, with Germany, Turkey and France at the top.


It is expected that the final quarter of 2018 will be the largest installation of photovoltaic equipment in history, with an estimated installed capacity of 34 GW.


In contrast, at the end of 2017, demand for 2018 will be between 94 and 111 GW due to the expected stabilization of the polysilicon market, higher upstream cost efficiency, and increased efforts to achieve the 2020 energy goals in Europe.


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