Annual Global Analysis of the Markets for Solar PRoducts and Five Year Forecast Now Available! 

2.1      Report Highlights

The global market for solar modules grew by a compound annual rate of 40% from 1997 (114.1-MWp) to 2017 (93.9-GWp)

The cumulative total of PV cells/modules shipped from 1997 through 2017 is 378-GWp

In 2017 global system and application revenues increased by 9% from $99-billion in 2016 to $108-billion in 2017

In 2017 the grid-commercial application, all system sizes, consumed 89.1% of PV modules  

Ninety-six percent of modules sold in 2017 were >300-watts and a majority were 72-Cell

Due to changes in China, the forecast for 2018 shipments ranges from 80-GWp to a potential of 103.3-GWp, with significant inventory hangover into 2019 with shipments at 103.3-GWp

Taken globally, Tender bidding for solar projects continues to trend downward with many bids <$0.03/kWh, indicating a global average in the mid-three cent range

From 2012 through 2017 the grid-connected application (residential, commercial and utility owned) grew at a CAGR of 29% while the grid-connected commercial application grew at a CAGR of 35%

The regional market of Latin America is estimated to experience growth of 31% to 39% through 2020

 The regional market of West Asia (primarily India) is estimated to experience growth of 23% to 33% through 2020


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