Global solar photovoltaic (PV) demand is forecast to hit another annual record of 113 gigawatts in 2018. China will again dominate global PV demand comprising almost half of the total market. “Demand in China will once again shape the global PV market,” said Edurne Zoco, research and analysis director for analytics firm IHS Markit.
“Demand is not only picking up in China, but also in India, where developers want to secure modules before any additional tariffs are introduced,” Zoco said. “The United States continues to import modules, despite the latest import tariffs. In emerging markets, countriess such as Egypt, Brazil and Mexico have large PV projects requiring modules in 2018. Several projects that were postponed in 2017, due to high module prices, will need to be installed this year.”
India is forecast to overtake the United States as the second largest PV market. Even if project profitability remains highly sensitive to module pricing, the possibility of future import tariffs is likely to drive developers to complete installations in 2018.
Last updated: December 26th, 2025
