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Solar PV module installed capacity will grow globally to 2020
Solar photovoltaic (PV) module annual installations showed strong growth during the 2006–2015 period, with a Year-On-Year (YOY) growth rate of more than 50% from 2008 to 2015, according to a new report published byGlobalData (London, UK).
GlobalData expects PV installation growth to continue world-wide for the next three years.
PV installations increased from 1.43 Gigawatts (GW) in 2006 to 48.67 GW in 2015 – with increasing economies of scale, emerging technologies, and policy-based governmental and institutional support for the industry helping to drive growth.
With significant annual capacity installations, YOY growth was extremely high, at 74.33% and 78.31% in 2011 and 2010, respectively.