SHANGHAI, China- June 5, 2019- Heraeus today stated that there is strong evidence that the PV market continues to outperform forecasts. Additionally, current industry consolidation will actually set the stage for a period of high-impact, uncapped innovation. Those insights were some of the major themes of an industry briefing by Heraeus Photovoltaics President Martin Ackermann at the 2019 SNEC Smart Energy Exhibition and Conference in China.
Based on industry research and input from its global network of customers in the PV value chain, Heraeus believes in forecasts indicating 124 gigawatt (GW) of new solar installations around the world. Ackermann stated that for the fourth consecutive year, the global PV market outperformed industry forecasts, providing momentum for 2020 and beyond. He said, “The industry saw a quicker than expected recovery and stability last year. It is setting the stage for the solid and sustainable growth that we are seeing now. That is good news for the industry and consumers seeking clean, affordable energy.”
Some of the other key findings discussed in the briefing include:
- A strong, robust market for solar energy exists, with a record 108 GW of new installations last year, despite new policies in China and the end of subsidies in several countries
- Solar adoption will continue on a strong and consistent growth trajectory, with 124 GW of new installations in 2019, 136 GW in 2020 and 140 GW in 2021
- China remains the world’s leader in photovoltaics/solar energy, and is expected to add 40 GW of new installations by the end of the year
- Considerable market consolidation is taking place, which will make market entry more difficult; however, it will actually benefit the industry because capital resources will be more strategically concentrated into higher-impact R&D
