2020, a sunny year for photovoltaics

IHS Markit, a specialized consultancy, indicates that the world will install 142,000 megawatts of photovoltaic energy this year.

Photovoltaic energy continues its rapid expansion worldwide, and 2020 looks set to do so under particularly strong conditions. This is because, as some point out… IHS MarkitAccording to an American consultancy, the global energy market will favor the installation of 142,000 megawatts of photovoltaic energy, a considerable figure considering that in 2010 only 20,000 megawatts of this type of energy were installed worldwide.

Continuing with that comparison of the last decade, in 2010 there were only seven countries, most of them inEuropeThose with more than 1,000 megawatts installed. The landscape has changed so much in just ten years that 2020 will end with 43 states exceeding 1,000 megawatts of installed capacity, with China remaining the undisputed leader, although its influence will gradually decline in favor of new players, especially in Southeast Asia, Latin America, and the Middle East, over the years.

As this consultancy points out, if the 2010s were the decade of technological innovation, reduced technology costs, and investment subsidies, 2020 will mark a new decade characterized by the expansion of photovoltaic demand across the globe, coupled with new players and an increase in…competitivenessIn contrast to traditional energy sources, they will move away from the world of subsidies and allow for diversification and expansion of markets.

How will the photovoltaic pie be divided by region?

Based on the regional forecasts, we can conclude the following from the cited study:

• ChinaPhotovoltaic demand will not reach its 2017 record, when a total of fifty gigawatts of solar photovoltaic power was installed.

• USAThe American country will experience a growth in installed solar power of a not insignificant 20%, which will allow it to consolidate itself as the second largest photovoltaic market, after China.

• EuropeThe old continent will grow at a good pace, installing 24,000 new megawatts, 5% higher than what was installed in 2019.SpainGermany, the Netherlands, France, Italy, and Ukraine are positioning themselves as the main players, which will accumulate 63% of this new power.

• IndiaThe world’s second most populous country appears poised for redemption in 2020 after a year plagued by regulatory uncertainty and challenges in solar panel imports. India is set to add 14,000 megawatts of new photovoltaic solar power this year.