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