Worldwide solar photovoltaics industry – statistics and facts

Published on: November 7, 2020 / update from: November 9, 2020 - Author: Konrad Wolfenstein

Statistics and facts / Solar PV – Statistics & Facts

Worldwide solar photovoltaic industry – Image: ra2 studio|Shutterstock.com

Global photovoltaic solar capacity has increased from about five gigawatts in 2005 to about 509.3 gigawatts in 2018. The cumulative PV solar systems in Germany alone reached around 42.4 gigawatts. The value of the solar power market is expected to continue to grow rapidly. Solar energy technologies remain one of the most heavily funded renewable sources.

The capacity of newly installed solar PV systems has grown steadily over the past few decades, with China being one of the largest markets for solar cells and modules. In 2017, nine of the top ten solar module manufacturers in the world were based in China. The country's share of the world's installed photovoltaic capacity reached 54.1 percent in recent years. At that time, solar PV capacity only accounted for about one percent of the country's energy production. However, China continues to place greater emphasis on transitioning to clean energy sources and is expected to continue building solar capacity. Since the industry's early days in the country, China has grown from a small, rural-focused solar program to one of the largest markets in the world. The market is believed to have largely emerged in the late 1990s, when demand for solar modules began to increase in Germany.

Despite its rapid global rise, the number of solar installations in China has declined largely due to a reduction in feed-in tariffs. The cost of PV solar modules continues to decline in international markets. Therefore, weaker demand and prices may put some solar companies under severe pressure. The election of Donald Trump will likely change the solar energy industry's regulatory environment, which could have implications throughout the world.

Global solar photovoltaic capacity has grown from around five gigawatts in 2005 to an approximately 509.3 gigawatts in 2018. Cumulative solar PV installations reached some 42.4 gigawatts in Germany alone. The value of the solar power market is expected to continue growing quickly. Solar energy technologies remain one of the most heavily funded renewable sources.

The capacity of newly installed solar PV has continued to grow steadily over the last decades, with China being one of the largest market for solar cells and modules. China was home to nine of the world's ten leading solar module manufacturers in 2017. The country's share of the global installed photovoltaic capacity reached 54.1 percent in recent years. At this time, solar PV capacity only accounted for about one percent of the country's energy output. However, China continues to place a larger focus towards moving to clean energy sources and is expected to continue adding solar capacity. Since the industry's beginnings in the country, China has moved from a small, rural-oriented solar program to one of the largest markets in the world. The market may have largely emerged in the late 1990s when demand for solar panels in Germany began to rise.

Despite its rapid rise globally, the number of solar installations in China has decreased largely due to a reduction in feed-in tariffs. The cost of solar PV modules continues to decrease in international markets. Thus, weaker demand and prices may put heavy pressure on some solar companies. The election of Donald Trump will likely alter the regulatory environment of the solar energy industry which may cause repercussions across the world.

Global solar photovoltaic industry – statistics and facts

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