Global solar demand to soar by 30% in 2021
China will account for 35% of global annual solar installations, according to a new report
The global demand for solar installations is set to climb by 30% in 2021.
That’s according to the IHS Markit new report, which suggests the sector this year will see a record number for solar installations fuelled by a drop in the production costs that will decrease module prices.
The analysis also suggests China will still account for 35% of global annual installations in 2021.
The report estimates the offshore wind industry will deploy more than 10GW of capacity, nearly twice as much as last year, as a result of the boom in installations in mainland China.