Types of Global Solar Installations

Preliminary data show that compared with 2019, the utility-scale photovoltaic market will grow slightly in 2020, but with the increase of the rooftop market, its market share will relatively decline. Thanks to the outbreak of rooftop photovoltaics in Vietnam and the partial growth of Australia, Germany, and the United States, rooftop photovoltaic capacity has achieved a significant increase in 2020.

Photovoltaics will play a key role in the energy transition. In the past 15 years, due to the development of technology and the decline in prices, the photovoltaic market has continued to grow and has gradually become a mainstream power generation method. In 2020, photovoltaics will account for approximately 42% of the total power generation from all new renewable energy sources.

While the clean power provided by photovoltaic power generation can directly reduce CO2 emissions, photovoltaic power is gradually becoming a catalyst for other clean energy systems in other areas of power production. Energy storage, hydrogen energy, and cooperation between electric vehicles and photovoltaics are attracting more and more attention. Taking electric vehicles as an example, compared with 2019, a total of 3 million electric vehicles will be put into use in 2020, an increase of up to 40%. Compared with the growth curve of photovoltaic installations, the penetration rate of electric vehicles may be faster.

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