Market research firm, IHS Markit expects global solar installations to continue double-digit growth rates in 2020, forecasting new installs to hit 142GW, a 14% increase over 2019.
Edurne Zoco, director, Clean Technology & Renewables, IHS Markit said, “Another year of double-digit global demand growth in 2020 is proof of the continued and exponential growth of solar PV installations in the last decade. If the 2010s were the decade of technology innovation, steep cost reductions, large subsidies and dominance by a few markets then 2020 marks the decade of emerging unsubsidized solar, diversification and expansion of solar installation demand across the globe, new corporate entry players and increasing competitiveness versus conventional energy