Publication - Global Market Outlook For Solar Power 2020-2024

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Global Market Outlook For Solar Power 2020-2024
SolarPower Europe
Michael Schmela
Published in
June 2020
The return of the global solar market to two-digit growth rates in 2019 signaled a positive trajectory for the sector. But in 2020, the solar world looks very different: the COVID-19 pandemic has not spared the solar power sector.

This year, new solar grid connections are expected to drop the first time in many years. Now it is of utmost importance that governments do not disregard renewables and solar power when developing economic stimulus packages.

If the world is serious about meeting the Paris Agreement climate targets, solar deployments not only need to get back on their recent growth track, but the installation rate of solar, the lowest-cost and most versatile power generation technology, must increase much faster, in the short- and mid-term.