Global solar PV market outlook update: Q4 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 the challenges posed by the Covid-19 pandemic. 2020 performed better than expectations, with 134 GWdc of solar PV installations in 2020 (up 22% vs. 2019). Year-on-year growth in installations will continue each year to 2025, topping out at 187 GWdc. 2024 will be the only year with less than 5% year-on-year growth, when the US market will slow following the slowing down of ITC spillover.