Markets & Policy

BloombergNEF expects up to 209 GW of new solar for this year

A new report from the U.S.-based analyst predicts that new PV additions for 2021 may range from 163 to 221 GW next year and from 179 to 240 GW in 2023. According to BloombergNEF, the current supply bottlenecks for glass and polysilicon will unlikely halt the global PV market.
Emiliano Bellini
By
Emiliano Bellini
According to BloombergNEF, around 240 GW of new PV capacity could be deployed in 2023. | Image: BloombergNEF

From pv magazine International

BloombergNEF has forecast that 2021 may become a record year for PV with over 200 GW of newly installed PV capacity.

In the latest 1Q 2021 Global PV Market Outlook, the analyst expects new PV additions for this year will range from 160 to 209 GW. For comparison, in 2020 and 2019, newly deployed solar had reached 135 and 118 GW, respectively.

Looking forward, BloombergNEF provides a conservative scenario and an optimistic one. Under the first scenario, new grid-connected PV systems are expected to total 160 GW this year and 163 and 179 MW in 2022 and 2023, respectively.

Under the second scenario, new PV additions are predicted to reach 209 GW this year and 221 and 240 GW in the following two years, respectively.

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