But it will still grab almost half of the global demand this year.
The global solar PV market will add over 100 gigawatts of capacity for the first time in 2018 — and there is no looking back.
According to the latest Global Solar Demand Monitor from GTM Research, installations will reach 104 gigawatts this year, representing 6 percent annual growth. After that, annual installations will easily exceed the 100-gigawatt milestone through at least 2022.
The year-over-year growth is due in part to geographic diversification, as the top four markets are anticipated to collectively decline by 7 percent.
Installations in China will fall from 53 gigawatts in 2017 to 48 gigawatts in 2018, although China alone will account for 47 percent of global demand this year.
For the first time in China’s history, annual distributed solar installations (<20 megawatts) are expected to surpass 50 percent of the nation's annual installed capacity.
"Trade-restrictive measures continue to be a barrier to growth in the U.S. and India," said GTM Research solar analyst Rishab Shrestha. "Although the availability of tariff-free modules in the U.S. and the announcement that compensation will be provided to Indian developers negatively impacted by tariffs and duties provides some encouragement." According to the report, the U.S. market is expected to add 10.6 gigawatts of solar PV in 2018 while India will install 7.1 gigawatts.
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