Solar Power Europe recently released the 2021-2025 photovoltaic market report. It is estimated that there will be 20 global photovoltaic markets above the GW level in 2021, of which China, the United States and India are still the TOP3, and the annual new installations are expected to reach 163.2GW. In 2022, it will be the world's first year to exceed the installed capacity of 200GW. By 2025, the world's annual new installed capacity will reach 266GW. It is optimistically estimated that all photovoltaic power plants in operation will exceed 2TW.

Looking back 2020

The photovoltaic industry can safely survive the global COVID-19 pandemic. And, the global demand for photovoltaics has only increased. Last year, the growth rate of photovoltaics reached 18%, and the total installed capacity for the year was 138GW.

There are 18 GW-level markets worldwide in 2020: China, the United States, Vietnam, Japan, Germany, Australia, South Korea, India, Spain, Brazil, the Netherlands, Poland, Mexico, Taiwan, Ukraine, South Africa, Belgium and France. One more than in 2019: Poland and Belgium have grown rapidly, while Egypt has withdrawn from the GW+ club. Obviously, the installation volume in Vietnam and Japan is driven by national policies. This year, several countries postponed their photovoltaic projects due to the epidemic. India and Brazil are typical representatives.

2021-2025

SPE predicts that this year's global installed capacity will reach 163.2GW, an increase of 18% over last year. At the same time, there will be 20 countries and regions around the world that will reach the GW level of installed capacity. Compared with last year, most key markets maintained their growth momentum. Five new markets including Denmark, Greece, Turkey, UAE and Canada replaced Ukraine, South Africa and Belgium last year.

The two largest incremental markets in 2022: China and India. China strongly supports photovoltaic and wind power in the 14th Five-Year Plan. Taking into account factors such as the photovoltaic supply chain this year, SPE believes that China will reach an annual installed capacity of 76GW in 2022, which is close to the CPIA’s highest forecast; although it is difficult for India to achieve this in 2022 The total installed capacity target of 100GW, but considering the epidemic situation, PPA electricity prices and module prices, India is likely to achieve 18GW installed capacity next year.