Global solar PV market outlook update: Q3 2020

This quarterly report provides insight into major developments for the global solar landscape, offering an assessment of the trajectory and key trends in the global market and providing scenario-based demand forecasts, insights on project pipelines, financing conditions, and supply-chain dynamics at the regional and country level. The analysis spans across market segments - residential, commercial, industrial and utility-scale - and includes deep-dive analyses on each regional market. Global solar PV markets continue to weather challenges posed by Covid-19. We now expect 115 GWdc of installations in 2020 (up 5% on 2019). The most severe lockdowns have ended in most countries, with construction on PV sites able to continue, albeit with many projects facing delays caused by disruption earlier in 2020. Year-on-year growth in installations will continue each year to 2025, topping out at 145 GWdc. The one exception will be 2024, when the US market will slow following the end of the ITC.