IEA PVPS Report: A Snapshot of Global Photovoltaic Markets 2016

IEA PVPS has distinguished itself throughout the years by producing unbiased reports on the development of PV all over the world, based on information from official government bodies and reliable industry sources. This fifth edition of the “Snapshot of Global PV Markets” aims at providing preliminary information on how the PV market developed in the last year. 

In 2016, the PV market broke again several records again and continued its global expansion, with a 50% growth bringing the market to at least 75 GW. After a limited development in 2014, and a 25% growth in 2015, the market continued its growth, with many regions of the world contributing to PV development. ** This global growth hides many contrasting developments in various regions. In Asia, after a stabilisation in 2014 the Chinese PV market grew to around 15,2 GW in 2015 and to 34,45 GW in 2016. In the Americas, the US market doubled from 7,3 to 14,7 GW in 2016. In the land of the rising sun, the rapid growth of the Japanese PV market until 2015 was finally halted and the country reached around 8,6 GW.

Together with China and many other countries growing as established markets in the region, Asia leads now the PV market. Next to these two giants, other Asian markets have confirmed their maturity: Korea (850 MW), Australia (839 MW), Thailand (726 MW), the Philippines (756 MW) and Taiwan (368 MW) are now established PV markets. Many others are also developing such as Malaysia, which is showing signs of possible rapid PV development in the coming years, as well as in Vietnam and Indonesia. However, the picture couldn’t be complete without India, whose installation number close to 4 GW once again reflects the positive outlook in this country. India could become one of the global PV market leaders in the co