GTM Research Raises Global PV Market Forecast for 2017

SHANGHAI, Apr. 21 (SMM) – GTM Research revised global solar market forecast to growth at 9.4% from decline at 7%, with total installation at 85GW in 2017, as China’s solar market growth was 34GW higher than they expected in 2016, reported by chinaglassnet.com.

China has installed 78GW of solar power station in 2016, sending global solar power installation to 306GW. CAGR of global solar power installation will be 5.3% by 2022.

China, the US, India and Japan will account for 73% of total installations this year.

GTM Research predicts global solar installation to increase below 1% in 2017-2018.

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