A new report released by analysts at Wood Mackenzie states that new solar PV projects are expected to hit 115GW this year, a 5% increase on installations in 2019.
“The most severe of lockdowns have ended in almost all countries, with construction on PV sites able to continue as planned, albeit with many projects facing delays caused by disruption earlier in 2020,” said Wood Mackenzie’s head of solar, Ravi Manghani.
“Year-over-year growth in installations will continue each year to 2025, topping out at 145 GWdc. The one exception will be 2024 when the US market will slow following the final stepdown in the ITC schedule.”
