Photovoltaics is a fast-growing market. According to a recent analysis by Fraunhoher Institute for Solar Energy Systems, ISE, the compound annual growth rate (CAGR) of cumulative PV installations including off-grid was 35% between year 2010 to 2019. Concerning PV module production in 2019, China (mainland) hold the lead with a share of 66%, followed by Rest of Asia-Pacific & Central Asia (ROAP/CA) with 18%. Europe contributed with a share of 3%; USA/CAN contributed 4%.
The report further states, in 2019, Europe’s contribution to the total cumulative PV installations amounted to 24% (compared to 25% in 2018). In contrast, installations in China accounted for 36% (same value as the year before). In terms of technology share, Si-wafer based PV technology accounted for about 95% of the total production in 2019. The share of mono-crystalline technology is now about 66% (compared to 45% in 2018) of total production. Going forward, batteries and storage solutions will get increasing importance e.g. to achieve higher self-consumption rates.
Read the summary of the report by Fraunhoher Institute for Solar Energy Systems.