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Wednesday, December 7, 2022

IHS Markit augments forecasts: predicting 181 GW of new solar capacities in 2021

IHS Markit has considerably heightened its forecast of newly installed photo-voltage systems for this year, from 158 to 181 GW, Ekovjesnik reports. Indicating the main trends in renewable energy sources in 2021, British analysts point out that this growth could mean an increase of 27 percent in relation to 2020. They expect significant growth of demand regardless of the higher prices of modules, longer delivery terms and growing transport prices and believe that this year as well China will be the largest world market with about 60 GW of newly installed solar capacities.

The rise of prices of polysilicon, copper and steel will help in maintaining prices of photo-voltage modules at current levels although the prices of solar glass could begin to fall from the second quarter of 2021. On the other hand,  experts in IHS Markit, expect that from May onwards demand will grow in China and on the international market of solar systems. They believe that the supply chain in this industry is entering a new phase with a greater focus on profitability, technological leadership and consolidation, and forecast that about 72 percent of the modules will be produced by the 10 best companies in 2020. That will be a significant factor of stable module prices with high production costs and the pressure of investors to increase the profitability of companies in 2021.

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