Solar growth to speed up after stumbling last year, report says

Installations of global solar energy projects are expected to hit a new high of 114.5 gigawatts this year, an increase of nearly 18 percent from 2018.

The research firm Wood Mackenzie said it believes the solar market has returned to growth after slowing last year in China, the world’s largest solar market.

The Chinese market peaked in 2017 when it produced 53 gigawatts of power, driven by generous fees for excess solar energy going back to the grid.

The biggest growth over the next few years will come from countries expected to install between 1 and 5 gigawatts of solar power. Last year there were seven such nations but by 2022, according to the report, there should be 19 countries, including Saudi Arabia, France and Taiwan.

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