PV is continuously growing. According to the latest figures from the German Solar Association by now the installed PV-capacity adds up to 300 GW worldwide.

In 2017 there have been additional 70 GW of PV installed worldwide. This means an increase of 30 % compared to 2015. The modules installed in 2016 alone are producing about 90 TWh of electricity every year, according to the German Solar Association (link is external).

The National Energy Administration (NEA) of China has canceled the construction of 100 coal-fired power plants last year. At the same time there have been 34 GW of new PV-plants built in 2016, what makes China the biggest market for PV. The second and third biggest PV-markets are the USA with 13 GW and Japan with 9 GW built in 2016.

The main reason for the development is the decreasing price of Photovoltaics. A study commissioned by the World Economic Forum (WEF) (link is external) states that in more than 30 countries the investment in solar energy can pay off even without incentives from the government. In 2015 Fraunhofer ISE (link is external) already drew the conclusion that PV is going to be the least expensive energy source in many parts of the world very soon.

Philipp Kronsbein / BSW-Solar