Industry may be heading into a big solar increase: Solar PV instalments are forecast to place 27% year-on-year expansion in 2021.
This is as reported by a current study by IHS Markit, that anticipates global demand to shoot up during the second half of 2021.
The evidence of the report syas China, US & India will show a record year for solar PV growth.
The data suggests mainland China will exceed 60GW in solar PV installations this year furthering the country’s renewable power growth path, as the US market is forecast to install 27GW.
Josefin Berg, Research Manager, Clean Energy Technology at IHS Markit, stated: “Leading module manufacturers are sold out for the first half of the year.
“There is no indication of price weakness for July shipments yet, manufacturing capacity remains sufficient and no major material bottlenecks have arisen to change our forecast for 181GW in global solar PV installations.”
Industry may be heading into a big solar increase