IHS has increased its forecast for Chinese solar capacity for 2018 to 40 GW after the country exceeded installation forecasts over the first nine months of the year. Analysis revealed that China introduced 34.5 GW up to the end of September, 1.5 GW more than IHS had predicted, with declining module prices driving up demand. New PV systems with an aggregate capacity of 34.5 GW were connected in China in the first nine months of this year. The report also found that China’s installed PV capacity is expected to grow by about 10 percent in 2018, compared to a previous projection made last year, and will be at least double current levels by 2020. However, IHS predicted China could double its installation targets for 2020 as part of its aim of becoming a global leader in renewable energy.
IHS has increased its forecast for Chinese solar capacity for 2018 to 40 GW after the country exceeded installation forecasts over the first nine months of the year. Analysis revealed that China introduced 34.5 GW up to the end of September, 1.5 GW more than IHS had predicted, with declining module prices driving up demand. The report also found that China’s installed PV capacity is expected to grow by about 10 percent in 2018, compared to a previous projection made last year, and will be at least double current levels by 2020. However, IHS predicted China could double its installation targets for 2020 as part of its aim of becoming a global leader in renewable energy.