After a rough couple of years, the solar industry has been an extremely hot segment of the stock market in 2019. At the end of 2018, first Solar, SunPower, Sunrun, Vivint Solar, and JinkoSolar were all up.
Bloomberg New Energy Finance expects solar installations to grow from 109 GW in 2018 to 141 GW in 2019.
China continues to be a leader in solar, but it’s supposed to fall from about 55% of the market in 2017 to 19% by 2023, according to Wood Mackenzie. It isn’t that China is giving up on solar, but rather that the technology is becoming more economical in other countries. Saudi Arabia, India, Chile, and parts of Africa are finding that solar energy is the cheapest form of new power generation, making it an easy choice.
In addition, residential solar continues to expand its market as more U.S. states find solar economical. Florida, Texas, and Nevada are growing, and establishing policies that should keep the industry growing for years to come. Installations have grown each quarter, rising 520 MW installed in the third quarter of 2018 to 640 MW installed in the fourth quarter of 2018.