In 2017, global solar demand will exceed 80 GW for the first time.
Demand growth of 6 to 8 percent per year is expected through 2019, as recently tendered projects reach completion and new markets take off, according to GTM Research’s latest “Global Solar Demand Monitor Q2 2016”.
China will be the key driver, and Chinese demand in 2017 will account for 39 percent of the global market.
GTM Research is tracking 17.4 GW of confirmed solar PV tenders in auctions across the globe. About 9.6 GW will be awarded in the third quarter of 2017 alone, says the consultancy’s quarterly report. With 8.1 GW confirmed, Europe leads as the region with the greatest share of tendered solar PV.
South Asia, led by India, ranks second with 5 GW.
According to GTM Research, tendering or auction schemes are currently in place in 48 national markets, and an additional 27 nations are currently discussing or planning tenders and auctions.