Global Solar Power Report RE 2017
BMI View: The United States will drive global solar power capacity growth over the coming decade, withrobust capacity growth in China and India cementing Asia Pacific's position as the biggest solar regionalmarket globally over the coming decade. The impact of intensifying competition in the solar market onequipment manufacturers and project developers, as well as the increasing importance of distributed solarcapacity, are key themes we highlight in this edition of the Global Solar Power Report.
In this bi-annual Global Solar Power Report, which is the newest addition to BMI's Renewables service, weaggregate our forecast for the global solar power sector and take a top-down perspective in order to identifyglobal trends, opportunities and risks. Our global solar power forecasts are a bottom-up aggregate of the 117markets we cover, making up more than 99% of the global market.
The report is divided into five different areas, which we outline below, together with a number of our views:
Global Solar Forecast: We forecast total global installed solar capacity to increase by almost 96%between 2016 and 2026 - from 338.4GW to 662.3GW - of which the United States will make up almost29% of total additions. China and India will be the second and third largest markets, with 22% and 16%of total additions respectively. As such, Asia-Pacific will drive global solar capacity growth with anannual average growth rate of 12.5% between 2017 and 2026.
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