New global solar PV installations to increase 27 per cent and attain 181 GW this year

According to a report by IHS Markit, global solar photovoltaic (PV) installations are projected to grow by 27 per cent this year to and record 181 GW.

According to the report, the countries which record maximum of this increase by are China, the United States and India. IHS Markit expects China will install 60 GW and US will install 27 GW of solar PV this year. Demand for modules in India is expected to increase from August, when a duty-free import window will open until April 2022. This year, the prices for solar PV modules are higher than last year. The delivery times are longer and freight costs are rising. But in spite of this, the demand is expected to grow in the second half of this year.

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