IEA PVPS Report: A Snapshot of Global Photovoltaic Markets 2020

This latest report published by the IEA Photovoltaic Power Systems Programme (IEA PVPS) provides estimated data about photovoltaic (PV) capacity in the countries reporting to the IEA PVPS Programme and additional key markets.

At least 627 GW of PV are now installed worldwide, as 115 GW of PV were installed globally in 2019.

After a year of market stabilization, preliminary reported market data shows a 2019 global annual PV market at a higher level than 2018 and 2017. At least 114,9 GW of PV systems have been installed and commissioned in the world last year.

The total cumulative installed capacity for PV at the end of 2019 reached at least 627 GW. 

In 2019, the PV market broke the 100 GW threshold for the third time in a row and the market grew with 12% YoY. This growth follows a year of stabilization and is explained by the significant market increase in all continents, which global effect has been partially hidden by the slowdown in China, the world market leader in PV installations (30,1 GW).

The European Union as a whole reached the second place (16 GW, with Spain and Germany in the top 10 countries) followed by the United States of America (13,3 GW). Behind this top 3, Japan (7 GW), Vietnam (4,8 GW), Australia (3,7 GW), Ukraine (3,5 GW) and Korea (3,1 GW).

In total, PV contribution amounts to close to 3,0% of the electricity demand in the world. The contribution of PV to decarbonizing the energy mix is progressing, with PV saving as much as 720 million tons of CO2eq based on the installed capacity at the end of 2019. PV contributes to reducing global CO2 emissions by 1,7% or 2,2% of the energy-related emissions and 5,3% of the electricity related emissions.