Energy market research firm IHS Markit issued a whitepaper highlighting trends impacting the global solar and energy storage industry in 2018.
According to the whitepaper, annual solar installations grew by 20% in 2017 compared to the 2016 level.
Despite policy changes and trade disputes negatively impacting on the market, technology advances and cost improvements led to the expansion of the market.
The 2018 top eight trends include:
- For the first time, 20 countries surpass 500MW in annual PV installations.
- Floating solar moves beyond niche applications.
- Bifacial and half-cell technologies are the new rising module stars in 2018.
- Full implementation of diamond wire is set for multicrystalline wafer cutting.
- US and India trade policies seek to foster domestic manufacturing growth, but global module prices and procurement trends may be affected.
- PV inverter suppliers are entering a new era of digitalisation as they race to build new digital business models.
- Long hailed as the solution to intermittency, utility-scale solar plus storage will take center stage in 2018, creating strong growth prospects for long-duration storage.
- Electric vehicles will finally start realising their potential, paving the way for new synergies with stationary energy storage.
Download the whitepaper here…
Sourced from our sister publication, Smart Energy International.