As you already know, renewable energy is a promising technology not only to minimize electricity costs but also significantly reduce the negative effect on Ecology. Every year, solar energy increases its pace of development, while reducing productional costs. According to SolarPower Europe, in 2017 the European countries have built 8.6 GW of solar plants, which is almost 2 GW more than a year before. The total solar generation capacity in Europe was 110 GW last year.
Energy Trend made an encouraging forecast for Solar Energy growth in 2018. According to the company, the new installed capacity will pass the mark of 100 GW this year. The solar industry leader — China — will build solar power of almost 50 GW. Despite the fact that China’s RES development rate will be reduced (it was rather bigger than 50 GW last year),** the****global growth will be achieved through the European countries**.
Spain, Mexico, Egypt, the Netherlands, and Brazil will be the new leaders in the solar industry development, — according to Greentech Media research. These countries will cross the 1 GW point and compete with the “old solar champions”.
We should also mention Spain. The country declared plans to build more than 20 GW of solar power plants in various territory parts in 2018. Spain has rich resources for using solar generation due to the high insolation level. The largest project companies like Enel and High Energy are to build PVS without using government funding. Thus, Spain will become a competitive country and will only increase its own installed capacity.
An additional reason for the European Solar Energy growth is the end of the minimum import price (MIP) for solar modules in September 2018, the restriction imposed by the European Commission.
What about the US?
As we remember, in the last 2 years the United States policy in relation to renewable energy has changed dramatically. In June 2017, the country left from the Paris Agreement aimed at preventing global warming and reducing CO2 emissions. The United States have declined support and funding for large-scale green energy development.
Despite this, the number of states that have passed 1 GW point of installed capacity will increase to 18 (from 2018 to 2020), — GreenTech Media reports.
The US solar generation cost for domestic use will remain the highest in the world. An important reason for this is the high customs duties for foreign solar modules. Thus, local producers will be forced to look for ways to reduce the cost by changing production.
The****US solar energy market growth will decline by more than 10%. Again, because of high customs duties. According to GreenTech, the problem will become especially noticeable next year, when early imported photo-electric modules will be no more available.
*Solar DAO — a tokenized fund designed for everyone to easily participate in PV solar plants construction across the globe. SDAO tokens on: *YoBit