Solar optimism sweeps Europe

SolarPower Europe presented its latest Global Market Outlook at the SolarPower Summit, showing another growth year for the solar PV industry in 2018. Global solar power installations increased by around 5% to 104.1 GW in 2018, in comparison to 99.1 GW in 2017. The EU-28 grew at a much higher rate, increasing by 36% to 8 GW in 2018, up from 5.9 GW of newly installed capacity in the previous year. Solar installations in Europe as a whole grew by 20% to 11 GW in 2018, up from 9.2 GW in 2017.

SolarPower Europe’s first market estimates show Germany regaining the number one solar spot in Europe after five years, adding nearly 3 GW in 2018, growing around 68% year-on-year. The second largest European market was the previous market leader Turkey, adding approximately 1.6 GW, with the Netherlands coming in for the first time as a top 3 solar market, adding 1.4 GW in 2018. France ranked just behind after adding 0.9 GW year-on-year, ahead of Italy with 0.5 GW.

On a global level, China remained the world’s leading market with 44.1 GW and a share of 42 %. While that is a 16 % decline compared to its record year in 2017, it is much higher than market experts had anticipated after China’s administration announced a reform of its solar subsidy program in May 2018. The top 3 global markets in 2018 alongside China were the US (11.4 GW) and India (8.3 GW).

Source: SolarPower Europe