NewEnergyNews: Global Solar Demand Slows Only 8%

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    Friday, April 17, 2020

    Global Solar Demand Slows Only 8%

    Inside Clean Energy: Coronavirus May Mean Halt to Global Solar Gains—For Now Revised forecasts indicate that demand for solar panels will be down this year for the first time since the 1980s.

    Dan Gearino, March 19, 2020 (Inside Climate News)

    “…[There are] potential economic effects of this crisis on the transition to clean energy…Projects are likely to slow this year because of disruptions being experienced by the companies that do the work and pay for it…But there remains a wide range of potential outcomes…BloombergNEF has revised its global forecasts for 2020, saying that demand for photovoltaic solar panels will be in the range of 108 to 143 gigawatts, down from the range of 121 to 152 gigawatts that was in the forecast less than a month ago…

    This is an 8 percent decrease…[Longer-term,] the pandemic will affect renewable energy in 2020 and have reverberations into some of 2021…[Taking a more pessimistic view of the impact of COVID-19 on the end-market demand for solar installations in 2020, IHS Markit expects global installs to decline 16% to 105GW in 2020, compared to around 125GW in 2019.]” click here for more

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