Installed solar photovoltaic capacity reached 500GW in 2018, according to recent analysis published by the International Energy Agency (IEA).
In the IEA Photovoltaic Power System Programme (IEA PVPS) latest Snapshot of Global Photovoltaic Markets 2018′ report, by the end of last year 505GW of PV capacity was installed worldwide in PVPS markets and other key countries.
During 2018 99.8GW was installed, according to the figures, compared with 98.9GW in 2017.
While the Chinese PV market experienced a limited decline in 2018 to 45GW, this was compensated with larger installation volumes in several emerging and established markets, including India with 10.8GW, Australia, with nearly 3.8GW, Mexico with 2.7GW and South Korea with 2GW.
The Middle East and African markets experienced growth as well, states the report, though the actual capacity addition will be recorded in 2019, when most plants will be commissioned, particularly in the United Arab Emirates and Egypt.
According to IEA’s analysis the US and Japanese markets were stable, while Europe grew in 2018, driven by Germany and the Netherlands primarily.
The global PV market outside of China grew by 9GW to 55GW, states the report.
PV supplies 2.6% of the world’s electricity demand, according to the analysis.