Global PV market to hit 75GW in 2019 - IHS

The world will add 75GW of PV capacity in 2019, by which time there will be 498GW of cumulative capacity in place, IHS predicts.

Around 50GW of PV capacity was added globally in 2014, a record performance driven by booming markets in China, Japan and the US.

Importantly, the global market will continue to broaden over the next half decade, with 11 countries likely to be adding more than 1GW of PV capacity each year by 2019, according to the market researcher.

That geographic diversity of demand “reduces the risk of another [collapse] in the global PV market and of an overly strong [production] capacity build-up”, says Susanne von Aichberger, solar analyst for IHS Technology.

“An increasing number of markets are entering the post-feed-in-tariff phase and embracing the integration of PV into the electricity market,” says von Aichberger, “which will help the market to avoid boom-and-bust situations.”

While module production costs are expected to continue falling over the next five years, increasing global demand will lead to a tightening of the global module market.

By 2019, the utilization rate across all global PV manufacturers will be as high as it was in 2010, at the height of the last PV boom, IHS believes.