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The most important statistics. Further related statistics Solar PV: global cumulative installed capacity share by country Newly installed solar power capacity China Cumulative installed solar power capacity China H1 , by region Key country's demand for solar PV Worldwide demand for solar photovoltaics U.
Further Content: You might find this interesting as well. Statistics Solar PV: global cumulative installed capacity share by country Newly installed solar power capacity China Cumulative installed solar power capacity China H1 , by region Key country's demand for solar PV Worldwide demand for solar photovoltaics U. Learn more about how Statista can support your business. June 14, Cumulative solar photovoltaic capacity globally as of , by select country in gigawatts [Graph].
In Statista. Accessed January 14, Cumulative solar photovoltaic capacity globally as of , by select country in gigawatts. Statista Inc.. Accessed: January 14, An increasing share of expansion will be in states where RPSs have already been met or are non-existent, such as in the Southeast and Southwest. For instance, falling costs, investment tax credits, and excellent resource potential have launched numerous large utility projects in Texas, Florida and Georgia, where land availability is not a constraint.
In addition, the economic attractiveness of solar-plus-storage is making utility-scale installations more appealing in some western states.
This forecast assumes these projects have already secured financing and, as such, are not at risk of cancellation during a weaker economic climate. Nevertheless, tighter financing conditions for new projects do pose a risk. Tax equity, the main source of financing for utility PV projects, is reported to have shrunk since March as a result of the lockdown, and project financing is being delayed until due to economic uncertainty BNEF, a.
The more cautious lending environment will also impact the riskiest projects, especially those with a merchant tail a period in which energy is being sold directly into the market. In addition, uncertainty over the business case in a weaker economic environment with potentially lower power prices and less demand may reduce corporate PPA demand.
In the past year, several large state utilities announced emissions reduction targets for and , and released integrated resource plans in which solar PV plays a key role SACE, For distributed PV, annual additions are forecast to increase in in anticipation of the phaseout of the residential ITC, and to subsequently decline in Also contributing to the expected contraction in is uncertainty over how attractive self-consumption will be for the commercial segment in a weaker economic climate.
Less energy demand, company budget reprioritisations and tighter financing conditions could discourage new investments. Yet, a rebound in average annual growth is expected between and as improved consumer confidence supported by favourable net-metering rules stimulates the residential sector, and new community solar initiatives help encourage the commercial segment.
Average annual growth could higher in the accelerated case. For utility-scale, this would be supported by an increase in corporate buying and utility procurement. For distributed PV, these would require faster declines in soft costs, one of the largest costs for residential PV, and more rapid permitting and grid connection in areas where there are backlogs for commercial PV. A rebound in PV deployment is expected for and , with capacity additions exceeding the level as delayed and new projects become operational.
The financial instability of many DISCOMs leads to delayed payments to generators, decreasing the profitability of existing projects and raising the level of risk perceived by potential developers and financial institutions. In addition, distressed DISCOMs view the development of rooftop PV as an additional challenge, as higher self-consumption reduces revenues from their most profitable commercial customers.
Although it is expected to provide important relief to renewable energy developers, a structural solution is needed to ensure the sustainability of DISCOMs to achieve faster PV growth. The main catalyst for utility-scale PV deployment is reverse-bid auctions. The switch from state-level to central auctions continued in , as the latter provides more payment security and attracts greater competition. New types of wind-solar-storage hybrid auctions were also held this year, making these systems competitive with existing coal-fired generators in many states.
Low bid ceilings, however, have been one of the main causes of undersubscription in many past auctions. Therefore, in March the government announced that future auctions will not contain ceilings, allowing developers to fully reflect changes in the economic environment in their bids and secure sustainable revenues.
Despite auction design improvements, transmission grid bottlenecks and land acquisition challenges persist. The Indian government is taking action to overcome these obstacles, mainly through the Green Energy Corridor and Solar Parks projects, but faster development is needed to reach ambitious national capacity targets by Because DISCOMs in better financial health usually support rooftop PV project deployment more eagerly, states with higher-graded utilities are more likely to meet their rooftop PV targets.
In addition, demand aggregation models to streamline borrowing are being developed, but the reach of such programmes remains limited. The forecast predicts stable annual capacity addition growth after , resulting from declining PV installation costs, the continuation of auction programmes and gradually improving conditions for distributed PV development. Annual capacity increases during could average 13 GW to 18 GW between the main and accelerated cases.
Achieving higher deployment will require that DISCOMs financial stability improves, the full potential of distributed PV is unlocked, transmission grid constraints are eliminated and land acquisition becomes simpler. Utility-scale installations are most affected by commissioning deadlines because many FiT-approved projects need to be commissioned in and to maintain the previously agreed prices and support periods, resulting in strong growth in these years.
Fewer FiT-based projects in , however, is expected to reduce utility-scale PV additions, with only a minimal contribution from auctions. Auction-based capacity is low relative to new FiT approvals, with previous auction rounds undersubscribed. Japanese PV additions are expected to contract starting in , mainly due to phaseout of the generous FiT scheme for large-scale projects and undersubscribed capacity in previous auctions.
The new policy aims to reduce financial burden, encouraging PV plants to participate in electricity markets to facilitate their system integration and providing a stable long-term revenue stream for developers.
However, details regarding the maximum size of eligible projects, ceiling price and the competitive selection process have not yet been decided and remain a forecast uncertainty beyond Solar PV growth during could be one-fourth higher in the accelerated case, with more attractive FIP remuneration and further cost declines, unlocking of the potential of other revenue streams such as PPAs, and continuation of the FiT scheme for medium-sized commercial installations.
Utility-scale projects account for the majority of new additions in the region due to limited support for distributed applications.
However, the share of commercial and residential installations in total investments is likely to increase over thanks to an improved regulatory environment and rising economic attractiveness. In addition, transition from the FiT to an auction scheme is expected to further slow annual growth in Distributed PV deployment should accelerate during the forecast period, stimulated by decreasing costs and new business models, including on-site private PPAs and roof-space renting introduced in In the accelerated case, annual additions beyond could reach 2.
Regulatory challenges persist, hampering the acceleration of renewable energy deployment. The main barrier remains a low tariff for renewable energy generators, set below the average purchase price of electricity. This low tariff and relatively high installation costs reduce the economic attractiveness of PV projects.
However, more supportive regulations are being introduced that could accelerate growth beyond In February , the requirement to build all projects under the Build, Own, Operate and Transfer scheme was lifted, increasing bankability. Plus, priority dispatch for renewable generators was introduced and the process of signing PPAs with the central off-taker was simplified.
In addition, a new regulation that includes a FiT for smaller installations and auctions for larger systems is under government consideration.
The forecast for the Philippines assumes 0. In Thailand , PV capacity additions are expected to remain between 0. Current support policies include annual contracting of 0. The government is also encouraging floating PV deployment, with the first auction for 45 MW already awarded and more capacity planned. Without additional policy support, however, revenues for renewable energy generators in most cases remain too low to ensure significant acceleration.
PV additions of just over 3. In addition, Australia has already met its Renewable Energy Target, resulting in an oversupply of generation certificates, which reduces revenues and undermines the business case for new developments. Consequently, utility-scale additions are expected to shrink further in and For distributed PV applications, installations continue to be encouraged by both the small-scale certificate programme and state-level FiT schemes buy-back tariffs for distributed PV exports offered by both utilities and retailors.
However, declining wholesale prices which guide benchmark FiT rates in many states , market saturation in some states e. New South Wales and Victoria , and lower values of small-scale certificates all challenge faster growth in and Moderate gains in utility-scale and distributed PV installations will begin in as both the small- and large-scale certificate programmes continue through , and as improving grid conditions from planned new investments help reduce connection and curtailment challenges.
Net PV additions are expected to reach Most of the increase is driven by utility-scale deployment from auctions in Germany, France and Poland. Higher growth also stems from the increasing attractiveness of net-metering in Turkey, Poland and the Netherlands. After , net additions in Europe are forecast to increase steadily from 21 GW in to an average of 25 GW per year between and EU member states were required to submit their final renewable energy targets by the end of , accompanied by plans to reach them, and several countries have already introduced or drafted national legislation to implement them.
Over the past year, legislation to expand and extend support has either been passed or introduced to reach new targets in major markets. Italy introduced auction schemes in and Poland continued to raise auction volumes while in Spain announced plans to resume tenders and Germany proposed to increase and extend annual auction volumes.
Distributed PV continues to increase gradually in Europe during , driven by steady growth in the commercial segment from self-consumption, net metering and, in some cases, auctions. However, the impact of support-scheme changes on large commercial systems in large markets is a forecast uncertainty.
In an effort to stimulate growth while balancing support costs, several countries are modifying their policy designs by changing size eligibility and mechanism to determine remuneration levels. Germany, the largest commercial market, proposes changing support for large commercial rooftop systems from FIPs to competitive auctions, while France has decided to move support for self-consumption in the segment back to administratively-set tariffs after auctions were under subscribed.
Residential PV in Europe maintains steady growth, led by self-consumption in Germany and net metering in the Netherlands and Poland. A number of factors could accelerate PV growth in Europe. The utility-scale increase results from the commissioning of capacity from special auctions held in an amendment to the Renewable Energy Act in introduced an additional 4 GW of auctions during to accelerate progress towards climate goals.
The residential increase in installations is driven by falling system costs and high electricity prices. However, two main uncertainties affect growth potential for the last quarter of The second is the impact of extension of support for distributed PV, a major motivator for the commercial segment. Remuneration for excess generation was set to expire once cumulative PV capacity reached 52 GW, a threshold expected to be attained by mid The installation pace therefore increased in the months leading up to the looming expiration; however, the government removed the cap in May and extended support, and installations have since declined.
Total installed distributed PV capacity had reached an estimated 2. Additions are forecast to expand in owing to a strong increase in utility-scale projects from the additional 4 GW of auctions.
Also supporting the sharp increase is additional capacity from the joint PV-wind auctions and the commissioning of unsubsidised projects corporate PPAs and bilateral contracts with utilities. This proposal raises annual utility-scale auction volumes from MW to 1.
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