Global Solar Capacity Set to Exceed 150 GW in 2021

Global Solar Capacity Set to Exceed 150 GW in 2021

With an expected 150 GW of fresh solar capacity to be added in 2021, solar will continue to strengthen its place as the biggest contributor to fresh capacity additions worldwide in 2021.

With almost 40 GW added in 2020, numbers that defied multiple predictions of hits from the Coronavirus pandemic, markets such as the US, Australia, and China in particular have surprised on the upside in 2020  with strong capacity additions. In the case of the US and even China and Japan, some of the rush was due to the expiry of subsidies on various categories. Nevertheless, the numbers have been a huge boost for global solar manufacturers, one of the reasons they have gone for a massive expansion spree in China.

Global Solar Capacity 2020

CountryWise Solar Additions, Cumulative Capacity by 2020 End. SaurEnergy

In 2021, China is expected to drive growth again, with that country’s PV association predicting a 55-65 GW installation figure. India is also expected to recover from a jolt in 2020, with over 8 GW of additions, as it seeks to catch up on its ambitious 100 GW target for Solar by 2022 end.

Other markets like Australia, where rooftop solar has been a big hit with 13 GW installations till now, are expected to keep the momentum going with  utility scale expansions upto 2022.

Key European and other markets worldwide, notably Spain, Chile in South America and the Middle East region, are other areas where solar growth seems set to continue strongly, linked to larger national and global goals on renewable energy.  But it seems safe to predict that the top 6-7 markets will continue to account for over 75 percent of fresh capacity additions in 2021 too.

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Prasanna Singh

Prasanna has been a media professional for over 20 years. He is the Group Editor of Saur Energy International