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Top 5 current trends in the global photovoltaic market

Vice President of Capital Times, Dmytro Baranovskyi, visited one of the world's largest conferences/exhibitions in the renewable energy sector – INTERSOLAR Europe.

The focus of the event: modern solar thermal technologies, energy storage systems, and network infrastructure.
Since its founding, more than 28 years ago, INTERSOLAR has become a key part of the largest industry platform THE SMARTER E EUROPE for manufacturers, distributors, investors, service providers, and partners of solar energy worldwide. The focus of the event: modern solar thermal technologies, energy storage systems, and network infrastructure.

In addition to the latest relevant information in the sector, an important part of such conferences is constructive and useful networking for the company and our clients. Dmytro has established business contacts with new financial and strategic investors from many countries. Among them are investors from Spain, Italy, France, the Netherlands, Poland, China, India, Oman, Nigeria, Israel, the USA, and Japan.

According to the International Renewable Energy Agency (IRENA), in 2018, the world total installed capacity of solar power plants (SPPs) amounted to 94 GW.

Top 5 current trends in the global photovoltaic market:

  1. Modules achieve higher level of efficiency and longer service life: performance warranties extend to up to 35 years;
  2. High-performance cells on the rise: mono cells, half-cut cells, and PERC cells;
  3. Inverters are becoming increasingly versatile: due to digitalization and growing needs of the market;
  4. Renewable hybrid power plants: combination of photovoltaic SPP, wind power plants and energy storage systems;
  5. Opportunities for new business models: made possible by sector coupling and the use of solar power for electric transport industry (e-mobility).

According to international experts, the global market for solar energy will grow in 2019 by +27.7% or +26 GW compared to 2018. Thus, the installed capacity of SPPs in 2019 will amount to 120 GW.

The two attached slides show an overview of the macroeconomic situation in Ukraine and an analysis of the Ukrainian renewable energy sector.