Photovoltaic Demand to 2021: Forecasting three cases for future deployment

July 12, 2017 | State of the Market Report

Installations of photovoltaics in 2016 saw a near unprecedented year-on-year growth of 50%, from 50 GW in 2015 to 75 GW in 2016 – growth not seen since 2011. It is clear that photovoltaics have now established themselves as a mature choice for future energy needs. However, with shifting policy landscapes, a cooling Chinese market, and emerging markets just beginning to install solar it is unclear if how the market will evolve over the next five years. We forecast demand out to 2021, examining a baseline trajectory of current trends and find a slower but steady growth. But given the tumultuous nature of the market, we also examine two scenarios: one where policy support declines in the U.S. but the key markets in the Middle East grow; two in which storage deployment is accelerated in countries where curtailment and grid reliability are issues. These present two very different outlooks for the market, with a 2021 annual installation spread of 46 GW.

Coverage Areas

  • Next Generation Power
  • Owning the Energy Transition

Table of Contents

  • Title page

Lead Analyst

Tyler Ogden
Analyst

Contributors

Katrina Westerhof

About Lux Research

Lux Research is a leading provider of tech-enabled research and advisory solutions, helping clients drive growth through technology innovation. A pioneer in the research industry, Lux uniquely combines technical expertise and business insights with a proprietary intelligence platform, using advanced analytics and data science to surface true leading indicators. With quality data derived from primary research, fact-based analysis, and opinions that challenge traditional thinking, Lux clients are empowered to make more informed decisions today to ensure future success.

Already a Lux Client?

Sign In

Interested in Learning More?

Contact us to learn the benefits of becoming a Lux member.

Or call us now

For North America (Boston Headquarters)
+1 (617) 502-5300

For EMEA (Amsterdam)
+31 20 280 7900

For APAC (Singapore)
+65 6592-6978