- Global solar PV installations are estimated to grow by up to 27 per cent in 2021.
- This growth is expected to be led by China, the United States and India.
- China is expected to install 60GW, while the United States will add 27GW.
Global solar PV installations are estimated to grow by up to 27 per cent in 2021, up from 142 GW last year, according to a report by data provider IHS Markit. The projected added global solar PV capacity is estimated at 181GW. This growth is expected to be led by China, the United States and India.
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Despite rising solar PV modules prices, longer delivery times, it is expected that demand would kick off in the second part of the year.
According to IHS Markit estimates, China is expected to install 60GW while the United States will add 27GW. India could use add up to 12GW as it looks to clear the backlog of projects stalled by the pandemic. In Europe, several tendered projects are set for completion. The report noted that leading module manufacturers have sold out panels for the first half of the year.