2018 brought the PV industry many ups and downs, including influences from Section 201 and 301 of the US Trade Act, the “531 New Policy” from China, safeguard tariff in India, and the termination of MIP undertaking in the EU. The industry’s extreme uncertainty had impacted every section of the PV supply chain. However, EnergyTrend, a division of TrendForce, points out that the overall market situation will improve in 2019 and demand will reach a new high throughout the year.
According to Rhea Tsao, an analyst at EnergyTrend, China’s “531 New Policy” has certainly impacted the PV industry in 2018; however, the impact was partially offset by the growing demand in the overseas market, and was not as severe as originally anticipated. By the end of the year, the industry’s demand did not fall as sharply as expected. In 2018, the newly added PV capacity is estimated to have experienced a hike of 4.9% YoY, reaching 103GW.
In 2019, with the momentum from the industry’s encouraging policies and more competitive product prices, the new grid-connected capacity is expected to reach a new high at 111.3GW, with an increase of 7.7% YoY, in 2019. In particular, EU market has seen recovery since 2018 with the implementation of Accord de Paris and decreased module prices. For 2019, the demand in the EU will see the most growth, which will possibly surpass 50%.
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