By 2022, the global photovoltaic capacity will reach 621.7GW

In addition, the association predicted in its "Global Solar Market Outlook 2018-2022" that due to recent policy changes, China's pv demand this year will not reach the 50 percent of global demand in 2017 and will increase by only 39 gigawatts.  However, according to the report, 14 countries are on track to install more than one GIGawatt of new PV capacity this year, while only seven countries achieved more than one gigawatt of new capacity in 2017.  

This, however, conflicts with recent data from Taiwan's TrendForce, which expects global pv demand to shrink 5%-8% this year to 92-95 GW, with China adding 31.6 GW.  But SolarPowerEurope's forecast is more in line with IHSMarkit's previous cut to 105gw from 113gw.  

Presenting the global market outlook at the European solar technology fair in Munich, Germany, SolarPowerEurope president ChristianWestermeier said it would take 1-2 years for China to solve the problem with its new photovoltaic subsidy system,  This will result in a global pv growth rate of 3% in 2018 and 5% in 2019, and a market growth rate of 17% in 2020.  

In addition, SolarPower Europe forecasts that global new pv capacity will reach about 621.7 GW during 2018-2022, which implies an average annual growth of about 124 GW.  

Commenting on developments in Europe over the past two years, Michael Schmela, Director of European Solar Market Intelligence, said the EU was still lagging behind its potential, adding only 5.91 GW in 2017 and 5.89 GW in 2016.  

According to him, the Growth of the European market depends on two factors: strong growth in Turkey and the withdrawal of solar power in the UK in 2016.  But 21 of 28 EU markets added more solar capacity than the previous year.  The EU solar market is expected to grow by 45% in 2018 and 58% in 2019.  

The association highlighted that all scenarios for its 2018 global market outlook show stronger-than-expected growth.  In 2017, SolarPowerEurope predicted 471 gigawatts of cumulative pv installed capacity in 2018. This year's forecast is 505 gigawatts, about 7% higher.  Cumulative installed global pv capacity will reach 871 GIGawatts by 2021, 13% higher than last year's forecast.