Prospects for the largest Global PV Markets 2022 (Pakistan)

The prospects for the largest global PV markets will be overall very good over the coming years.Most of the Top 20 markets will likely see two-digit compound annual
growth rates until 2022; two countries are supposed to grow even over 100% (Egypt, Saudi Arabia).

Despite China’s sudden announcement to cut subsidies, there is no doubt that its government will continue to strongly support solar over the coming years. This is about a transition from way too high fITs to more cost-effective support mechanisms. China is expected to add 209 GW in our Medium Scenario, followed by India with 78.4 GW, and the US with 62.6 GW. While India’s Prime MinisterModi is the master mind behind India’s ambitious! solar plans, the Trump administration is not considered solar-friendly at all.However, the US federal government’s negative stimulus is countered by positive developments in many states. Japan is expected to add 29.3 GW until 2022,whichwould make itthe fourth largest solar market over the next five years. Still, unlike for any other country on this list, annual demand is likely to decrease constantly as the country works on fixing its costly solar incentive scheme and infrastructure. The Uk is the slowest growing market among the Top 20, expected to add only 2.1 GW until 2022. So except for the Uk, the prospects for the leading solar markets are expected to be mostly sunny over the next few years.