142 GW of solar energy is projected to be produced worldwide by the end of 2020

The world is moving with confident steps and getting even closer to achieving the goal – 100% Renewables.

According to an optimistic forecast by the research company IHS Markit, expects that 43 countries to install more than 142 GW of solar energy in 2020, up 14% from 2019. However, experts see Ukraine as one of the six leading European countries, leading to the installed solar energy capacity in the region.

Photo: IHS Markit

The continued growth is expected to come from outside of China, still the world’s leading market. Market growth in 2019, excluding China was said to have increased by as much as 53%. In 2020, the market research firm expects continued growth in the double-digit range. 

As a result of wider global adoption, the top 10 solar markets are expected to experience market share declines to around 73 % of the total, down from 94% compared to 2010.

Europe is booming after nearly doubling installations in 2019. The market is set to continue strong growth in 2020 as the market research firm is forecasting installations to exceed 24GW in 2020, a 5% increase over 2019.

The key European market is expected to be Spain, Germany, Netherlands, France, Italy, and Ukraine, accounting for 63% of total EU installations in 2020.

Remind, that by the IB Centre forecast, having reached 5 GW of solar power capacity, Ukraine can enter the TOP15 of the world’s most developed solar energy markets. Nevertheless, on the way to its new achievements, Ukraine needs to create clear rules of the game and transparent tariff policy for investors: in particular, to implement an effective auction system for renewable energy facilities and to go back from retrospectively reducing the “green” tariffs for installed solar power plants. 

The issues of new regulatory conditions for the industry and potential risks will be the focus of the main Solar Energy Conference CISOLAR 2020 that will be held on the 7th of April at the Fairmont Hotel (1 Naberezhno-Khreshchatytska Street, Kyiv). Innovation technologies and best solutions of the field will be presented on April 8-9 at the 2-day Trade Show of the latest solar energy technologies, which will be held at the M82 exhibition center (82, Mezhyhirska Street, Kyiv), will bring together more than 120 major companies from 30+ countries.

CISOLAR 2020

Registration is open: https://2020.cis-solar.com/

CISOLAR organizing committee:
+38 044 383 03 56
cisolar@ibcentre.org 

Source: IHS Markit

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