The PV Market Alliance uncovered yesterday the first release of its annual PV Global Market Report, which states that PV market development up to 2020 is affected by a significant level of uncertainty but is likely to grow up to 70 GW and possibly 90 GW in the most optimistic scenario.
In January 2015, the PV Market Alliance announced that the global PV market reached 40 GW in 2014. That number was confirmed later by the International Energy Agency (IEA), while several observers of the PV market continued to bet on a 45 GW market that was never confirmed.
The PV Global Market Report estimates that the PV market should reach around 50 GW in 2015 in a reasonable scenario and could reach 70 GW in 2020. In the most optimistic case, the market could reach 90 GW in 2020 under condition of positive development in all main regions, including the Indian market.
According to the report the most probable scenario, given the global economic situation consist in a moderate growth that would bring the global PV market from the 40 GW reached in 2014 to 50 GW in 2015 and 70 GW in 2020.
The uncertainties remain high from 2017 onwards due to high expectations from emerging markets, including India. But established markets such as the USA and China could be difficult to forecast after 2017 due to possible policy changes.
The PV Global Market Report
The PV Global Market Report received support from renewable organisations such as Solar Power Europe (formerly EPIA), Solar United, Bridge to India, Enerplan (France), Gunder (Turkey), PV Poland and UNEF (Spain).
The “PV Market Alliance” was established in 2014 and comprises well-known regional PV and CPV experts from China, Europe, Japan, Latin America and the US, covering the global PV market, which includes: Asia Europe Clean Energy (Solar) Advisory (AECEA) in China, Becquerel Institute in Belgium, Spain’s Creara (formerly Eclareon Spain), RTS Corporation in Japan and SPV Market Research in the U.S.
To learn more see brochure below. For the Full Report click here.